PERE caught up with David Schaefer, head of Asia Pacific and global head of institutional capital at DTZ Investment Management at last week's PERE Forum: Asia, for a quick conversation.
Schaefer, who is building a private equity real estate business for the global property services firm in the region, told PERE that: investors should back 'first time funds' where the leadership has experience; that two and twenty fee structures were never 'de facto' for private equity real estate funds; and that back-ended promote doesn't change the 'economics' for a GP, just the timing.
VIDEO: Back-ended fees 'don't change the economics'
David Schaefer, head of Asia Pacific and global head of institutional capital at DTZ Investment Management, explained how back-ended fees should be considered attractive to both GPs and LPs alike, among other things.
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