Fund Manager
The fund manager is the GP entity or professional team responsible for fund operations, investment decisions, asset management, and investor relations.
| Manager Responsibilities | Function |
| Investment sourcing | Identify and evaluate opportunities |
| Due diligence | Underwrite and negotiate acquisitions |
| Asset management | Oversee property operations and value creation |
| Capital deployment | Execute investment strategy |
| Investor reporting | Quarterly updates, annual audits |
| Exit execution | Maximize proceeds from dispositions |
| Manager Compensation | Fee Structure |
| Management fee | 1.5% to 2% of committed capital or NAV |
| Acquisition fee | 0.5% to 1% of purchase price |
| Asset management fee | 0.5% to 1% of property value annually |
| Disposition fee | 0.5% to 1% of sale price |
| Carried interest | 20% of profits above hurdle |
| Total manager economics | 2% to 3% annual plus 20% carry |
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