Investors would not dream of paying a performance fee to traditional fund managers merely for matching the market return, yet they cheerfully reward private-equity managers for the same feat.

投资者绝不会在收益仅仅符合市场一般回报水平时向传统基金的经理人支付业绩提成，然而他们却欣欣然的在同样情况下，给予私募股权经理人以业绩提成。

youdao

Many entrepreneurs and managers often dream and quip of the endless business possibilities we would have if only we had the flexibility of a huge financial war chest at our disposal.

很多企业家和管理者经常梦想和自嘲如果我们有巨量的可支配资金的话，我们会有多么广大的商业机会。

youdao

That is providing a nasty reality-check to those money managers who had hoped it would all be just a bad dream.

ECONOMIST: Fund management

"Its history is a tale of strategic brilliance and operational excellence that all managers dream will be told about them some day, " writes Harvard professor Clayton M.

FORBES: Magazine Article

Investors would not dream of paying a performance fee to traditional fund managers merely for matching the market return, yet they cheerfully reward private-equity managers for the same feat.

ECONOMIST: Time to reassess how fund managers are rewarded