William Barnes

SB Value Partners does not charge traditional annual management fees based on the value of your portfolio. Instead, the firm is compensated through performance-based fees (a share of your net profits):

• SAB Moderate Equity Partnership — 20% of net profits per year
• SAB Capital Markets & SAB High Yield Capital Markets Partnerships — 25% of net profits per year
• Separately Managed Accounts — 25% of net profits per year

Performance fees are calculated annually and are subject to loss carryforward provisions, meaning no profit share is charged until past losses are recovered. Minimum initial investments are $250,000 for partnerships and $1,000,000 for separately managed accounts.