# Dalton Strategic Partnership

It attracted over $1 billion in 2006 to April, reaching$4.2 billion in total assets. Talking to the founder of the eponymous firm, Andrew Dalton, and looking at returns from DSP’s three hedge funds, and indeed its long-only funds, it does not take long to realise the 2% management fee is not Dalton’s main focus. It is the 20% incentive fee, at least where it applies in the case of the hedge funds, that Dalton looks to. Dalton Strategic Partnership remains, even at \$4.2 billion a