Feenix Venture Partners provides investment management services to private funds. They invest in direct loans to small and medium-sized businesses. The firm's investments are managed according to the investment objectives of each fund and are not tailored to any particular investor. Feenix may enter into arrangements with certain clients that provide for more favorable terms than those provided to other clients.
Fee Structure
Feenix Venture Partners manages private funds and charges a management fee on called capital for closed-end funds and based on net asset value for the open-ended fund. The affiliated general partners have the potential to earn performance-based compensation from the funds. The management fee is typically paid quarterly in advance. For the closed-ended funds, the management fee is 1% per year of called capital. For the open-ended fund, the management fee is 0.25% per quarter (approximately 1.00% per year) of the balance of each applicable limited partner’s capital account. An affiliate of the advisor is entitled to receive a 20% promote over a hurdle of 8-12% of the realized IRR for closed-ended funds, and 20% of the promote over a hurdle of 8% of total return annually subject to a high-watermark on the open-ended fund.