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High water marks, hurdle rates and crystallization
High water marks, hurdles and crystallization dates determine when performance compensation becomes payable. Similar sounding terms can produce different results.
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Hedge Funds Investment Guide
Understand hedge fund structures, investigate strategies and fees, and build a disciplined manager research process. Follow eight stages from investor access and portfolio mechanics to due diligence and ongoing review.
Start with What a hedge fund is and what it is not, then follow the next lesson links. Explore 32 lessons with worked examples, exercises and further reading.
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Incentive terms · All lessons
Fund Terms and Liquidity
Read the agreement and connect fees and exit terms to your investment experience.