As many hedge fund managers head upstream with both management and performance fees, Burlingame Asset Management is looking to reel in the fee-wary investor with a lower incentive fee. But there is a catch. Investors have to agree to a longer lock-up period than the standard one-year term. While it is not unusual for hedge fund managers to lower incentive fees if an investor agrees to keep their money in the fund longer, it is going against the current trend, which lately has been heading toward higher fees all round, regardless of lock-up.
The San Francisco-based firm is