Asian private-equity fee practices found to be sub-optimal

More than 55% of Asian private-equity funds charge a flat management fee of 2% on committed capital, compared to the global average of 40%. That's money for old rope when the fund is over a $1 billion, where the average fee is just under 2%. The newly launched $2.5 billion Carlyle Asia Partners 3 fund, for instance, charges 1.5%.