Camulos Capital LP | Hedge Fund Tracker Notes

Camulos Capital Hedge Fund

Camulos Capital | Hedge Fund Notes

Camulos Capital in a letter last week asked its investors to promise to keep nearly $2bn (€1.4bn) in place with the firm for another year as part of a restructuring. Camulos, the letter said, will take a 1.25% management fee, instead of the standard 2% fee, on most assets. If the fund makes money starting October 1 through 2010, the firm will keep 10% of most profits, not the 20% that is typical of hedge funds and that Camulos investors previously agreed to pay, the letter said.

Meanwhile, Ore Hill Partners, a New York money manager with about $2.8bn in hedge fund assets, also told clients it is ready to deal. It offered a sliding scale of fees depending on how long investors would commit money to its Ore Hill International Fund. With returns lower this year at many hedge funds, there has been much talk of investors demanding better terms. But until now, there have been few reports of hedge funds actually changing their model.

Lowering fees can make it hard for funds to keep top analysts and traders, who often are paid out of profits, and it can undercut a fund's prestige. Just last year, investors were begging to get into hot funds. But with hedge funds having their worst year in nearly two decades, investors are getting antsy. Source

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