For those of you working at a HF, I was curious to know if it is typical to offer all employees of a fund and opportunity to co-invest into the fund. I imagine that investment professionals would have this opportunity, however I'm curious to know if other employees (legal/compliance/accounting) staff would also get this opportunity?
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I don't know if it is typical as my experience is limited, but certainly exists where all employees can invest in the fund with reduced fees and minimum investment etc. Some places have a minimum, albeit reduced, investment amount even for employees which can rule out those not earning investment professional salaries. Also, I am not entirely convinced it is the soundest idea. Your income and certainly job security is correlated to the performance of the fund, wouldn't you want to diversify away from that rather than increase the level of concentration with your savings?
it depends fund to fund...the fund i work for is closed to investment and it is considered a perk for very senior people to be able to invest. I am not sure I would really want to invest anyway so I have never pushed for this "perk"...i like to keep my eggs in different baskets. I am not sure employees are allowed to get preferential terms tho...in fact i think they have to get the same terms as the investors.
I am non-US based so the rules sound like they are different based on what Bondarb has said but at a former employer they had a significantly reduced minimum investment for employees and also preferential fees. (Fees for locked up money I think, with no actual lock up)
Same as what BondArb said.
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