Fund of Hedge Funds

Hermes overhauls the fund of funds model

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Hermes BPK Partners has set out to change industry attitudes with its investor-centric ethos

Hermes BPK Partners has set out to change industry attitudes with its investor-centric ethos

Hermes BPK Partners launched its first fund of funds just over a year ago with a massively ambitious goal. Its aim is to reshape the fund of hedge funds model to be more fully aligned with clients' interests. "We in the industry have to start earning our fees instead of taking fees," says Matteo Dante Perruccio, chief executive officer.

Cynics may suspect that Hermes BPK's three founding partners are just following the party line. The industry debate about alignment became deadly serious last year after