The Unicrunch — Give fees a chance, water in the desert
- David Brooke
- +Sami Vukelj
Loan servicing
Money: you never have enough, and you’re always spending too much.
Many people would probably argue that private credit funds have more than enough money right now, but the second part of the above statement might hold true for some of their LPs.
As we reported earlier this week, the Stanislaus County Employees’ Retirement Association (StanCERA) paid out a princely sum of $12m to its private credit managers from July 2020 to September last year — almost 20% of the investor’s total fee outlay.