(Financial Times) Hedge fund and private equity managers have come under renewed pressure to cut fees from three large US pension schemes that have laid out aggressive plans to drive down investment costs. The $60bn Massachusetts state pension fund plans to cut the size of its private equity portfolio by 12 per cent to $6bn and is pushing for fee reductions from its external hedge fund managers, according to a spokesperson for the scheme.
Hedge Funds and Private Equity Pressured to Cut Fees
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