Management Fee Offset

How to Write an LPA: The Limited Partnership Agreement Guide for Fund Managers

A practical 2026 guide for venture capital and private equity fund managers on drafting, negotiating, and operating under a Limited Partnership Agreement (LPA): key sections, ILPA standards, costs, lawyer selection, and common mistakes.

Carried Interest in Private Equity: How It Works vs. Venture Capital

Carried interest works differently in private equity vs. venture capital. Here's how PE and VC carry structures compare — including waterfalls, hurdles, and what LPs should negotiate.

2 and 20 Fee Structure: How Management Fees and Carry Work in VC and PE

The 2 and 20 fee structure is the backbone of hedge fund, VC, and PE compensation. Here's exactly how management fees and carried interest work — with real calculations.

How to Become a VC Scout: The Practitioner's Guide (No MBA Required)

A practitioner's guide to becoming a VC scout — covering candidate profiles, scout vs. analyst differences, how to find programs, red flags to avoid, and how scouting builds a real VC career.

Fund Administration for Emerging Managers: What to Outsource vs. DIY

Emerging managers face a critical choice: what fund admin to outsource vs. handle internally. Here's a practical framework covering costs, functions, and common mistakes.

Side Letter Negotiations: What LPs Actually Ask For

Side letters are where LPs exercise real leverage. Here's a breakdown of the most common provisions institutional LPs actually negotiate — and how GPs should respond.