Seeking Alpha – For the last few months, the media has portrayed the hedge fund industry as in desperate need to hang on to as much capital as possible. Hedge fund limited partners have purportedly been lining up demanding breaks on fees and access to capital in the future — and getting them. The truth is a little different (or at least a little more nuanced) than this perception.

Based on conversations I’ve had with managers in the industry, there are two factors which appear to differentiate between those hedge funds who have agreed to big concessions on fees and liquidity with their investors and ones who haven’t.

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Tags: concessions, conversations, desperate need, hedge fund, investors, limited-partners, liquidity, nuanced, perception, seeking alpha, truth