Summit Partners Public Asset Management (SPPAM) manages investments for private investment funds, a separately managed account client, and a portion of a registered investment company. SPPAM focuses on capital appreciation through investments in publicly traded equity securities and related instruments. SPPAM's services include identifying investment opportunities, managing investments, managing portfolio risk, and achieving dispositions of investments. SPPAM is owned and controlled by Summit Partners, L.P.
Fee Structure
SPPAM manages investments for various types of clients, including private investment funds, separately managed accounts, and a registered investment company. Fees and expenses vary depending on the client type and are detailed in their respective governing documents.
For private investment funds, SPPAM generally receives a management fee ranging from 0.50% to 1.75% per year, payable in advance each quarter, based on the fund's net assets. SPPAM also receives a performance fee or allocation equal to 5-20% of incremental profits, subject to a "high water mark" or "loss recovery provision".
For the registered investment company, SPPAM receives an asset-based management fee of 0.86% per year based on the net asset value of the assets sub-advised by SPPAM. SPPAM is not paid a performance-based fee for its sub-advisory services to the registered investment company.