Pine River Capital Management provides investment management services to private investment funds and separately managed accounts. Pine River uses various fixed income strategies to manage assets. The firm does not tailor its advisory services to the individual needs of investors in the Pine River Funds, but may tailor its services to the needs of clients in separately managed accounts. Pine River does not participate in wrap fee programs.
Fee Structure
Pine River does not have a general fee schedule. The compensation each fund pays Pine River is set forth in each fund’s governing documents. Pine River is compensated for its advisory services in some Pine River Funds based on a percentage of assets under management. Current management fees for active Pine River Funds which charge them are at a rate of 1.75% per year of the net asset value of the assets of the relevant fund prior to deductions for incentive fees. Some funds employ an expense pass-through model and do not pay a management fee to Pine River. Instead, each investor is generally subject to its pro rata share of passed through expenses. Pine River is generally also compensated via performance-based fees or allocations, which are between 10% and 20%, calculated as a percentage of the amount, if any, by which the net asset value exceeds a high water mark. As compensation for the investment management services it provides to its separately managed accounts, the Managed Accounts pay Pine River a negotiated Management Fee and/or an Incentive Fee based on performance which is detailed in each Managed Account’s Account Documents.