题目
Hedge funds are similar to private equity funds in that both:
选项
A.are typically structured as partnerships.
B.assess management fees based on assets under management.
C.do not earn an incentive fee until the initial investment is repaid.
答案
A
解析
A is correct. Private equity funds and hedge funds are typically structured as partnerships where investors are limited partners (LP) and the fund is the general partner (GP). The management fee for private equity funds is based on committed capital whereas for hedge funds the management fees are based on assets under management. For most private equity funds, the general partner does not earn an incentive fee until the limited partners have received their initial investment back. ：A是正确的。私募股权基金和对冲基金的结构通常为合伙制，投资者为有限合伙人，基金为普通合伙人。私募股权基金的管理费基于承诺资本，而对冲基金的管理费基于管理的资产。对于大多数私募股权基金而言，普通合伙人在有限合伙人收回其初始投资之前不会获得激励费。