Johnson Associates projects large buyout bonus pools up 2.5% to 7.5% this year and private credit down. Equity bankers are looking at 20% to 30%-plus, and carry is not in the numbers.
The new SEI Carlyle Private Markets Fund lists a 0.75% management fee. Its own fee table puts net annual expenses at 3.05%, most of it charged inside the underlying funds.
Six senior people left tracked buyout firms for operating companies this week. The firms kept hiring operators anyway.
KKR reported record fee related earnings up 27%. Strip out a reclassification and the like-for-like growth is closer to 6% to 11%, with capital raised down 41%.
Microsoft last gave a Copilot seat count in July. This quarter it gave multiples with no base, and a price list that now includes a meter.
