Hi AllA clarification to the previous post, PAC owns 100% of...

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lost

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16/04/22

10:36

Post #: 60878588
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Originally posted by lost: ↑

Hi All

Looks like Aether Investment Partners is raising a first round of FUM for a new fund type called Aether Real Assets Seed Partners. The objective of the fund is to raise $USD750M in FUM.

Documents were lodged with the SEC on the 6th of April 2022. Seed investments by Aether will be commitments to new vehicles with interests in management fee and/or carry.

Up to $USD50M in allocations has been approved as follows:
https://www.pionline.com/searches-and-hires/louisiana-schools-assigns-75-million-2-alts-funds

Believe the management fee margin for Aether is around 1.4% on FUM, so this would look to generate an additional $USD10.5M in revenue. While PAC states it has 100% of profit share (which I would assume is management + performance fees), I am not certain how much would flow through to PAC.

Best of Luck
Lost

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Hi All

A clarification to the previous post, PAC owns 100% of Aether Investment Partners and 25% of Aether General Partners. Based on the Brochures lodged with the SEC the following is applicable:
Aether Investment Partners earns Management Fees of between 0.6% and 1% on FUM - PAC ownership 100%
Aether General Partners earns Performance Fees of no more than 5% on FUM - PAC ownership 25%

Typically PAC generates 1.4% per annum on FUM from both Aether businesses, however this could vary dependent on performance fees.

The brochure can be found here:
https://adviserinfo.sec.gov/firm/summary/149742 (item 5A management fees, item 6 performance fees)

Happy to be corrected if anyone else has a different interpretation.

Best of Luck
Lost

Last edited by lost: 16/04/22

PAC Price at posting: $7.50 Sentiment: Buy Disclosure: Held
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