‘No Limit’ Hedge Fund Fees Are Eating Up Their Clients’ Gains (1)

For the full experience visit: Hedge Funds Are Pocketing Much of Their Clients’ Gains With ‘No Limit’ Fees

In 2023, the main hedge fund at billionaire Dmitry Balyasny’s eponymous firm notched a gross return of 15.2%.

Investors walked away with a gain of just 2.8%.

The rest they paid in fees — more than $768 million to be exact — covering everything from trader compensation to mobile-phone service.

That parceling out of costs is one of the most coveted perks of running a multistrategy hedge fund. Investors are so eager to pony up money that they effectively write a blank check, ...