I'd be surprised if he got standard management fees on a fund where the "bulk" of the money comes from one contributor and they tell you how much of who to buy.
Exactly....even if it isn't the normal fee...say it's 10% of the normal fee (which I HIGHLY doubt), that still 0.2% of $1B Annually.
Which is still $2M annually. He hires 10 people at $100K a piece, and office expenses of about $200K if he wants to be ostentatious. That's about $800K annually.
Not bad, not to mention that he gets his 20% of the carry.
Keep in mind that we are talking 10% of the 2% standard rate which I am relatively certain he isn't getting.
