Bloomberg – Och-Ziff Capital Management Group LLC and Bain Capital LLC plan to charge performance fees on hedge funds next year even if they fail to recoup their 2008 investment losses.
Most hedge funds don’t levy the fees, usually 20 percent of profits, until they climb back to their peak value, known as the high-water mark. New York-based Och-Ziff, which oversees $21.5 billion, and Bain’s Brookside Capital LLC of Boston, manager of $10 billion, resume the fees one year after an annual loss, according to investor agreements obtained by Bloomberg News.
