Dalton Strategic Partnership
One could be easily mistaken for assessing hybrid long-only and long/short house Dalton Strategic Partnership (DSP) as an asset-gatherer.
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 amassed since
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