UBS’s Capital Introduction days connect institutional investors with the people behind newly launched funds seeking seed capital. But at the event in February, held at the bank’s London headquarters in Broadgate, the 12 companies showcased by UBS hardly needed an introduction. According to a source present, the funds included those run by JPMorgan Asset Management, Carmignac and Odey Asset Management.

Not only were the industry giants out working the floor, but each of their fee structures differed significantly in size and scope. Time was, nearly every hedge fund took a standard 2% management fee, meant to cover staffing and operational costs and rent, and a 20% performance fee drawn from the investment returns.