Fees & Expenses
Which expenses are borne by the firm and which are borne by the funds.
Effective: January 1, 2026 · Reviewed annually by the Chief Compliance Officer
The Aukeo Fees and Expenses Policy documents which expenses are borne by the firm as operating overhead and which expenses are properly allocable to fund vehicles. The policy is designed for transparency to LPs and alignment of incentives.
Firm expenses
Ordinary firm operating expenses — personnel compensation, office overhead, technology, general marketing, and firm-level travel not related to specific investments — are borne by Aukeo Capital Management as manager.
Fund expenses
Fund-level expenses — formation costs (within LPA-defined caps), fund audit fees, tax preparation, fund administration, legal expenses tied to fund matters, and LP-specific reporting costs — are borne by the applicable fund.
Investment expenses
Investment-specific expenses — diligence third-party reports, deal legal costs, financing costs, and construction-management overhead — are borne by the applicable investment vehicle. Broken-deal expenses are allocated under a documented policy.
Reporting
An expense allocation report is provided to each LP Advisory Committee quarterly.
Questions regarding this policy may be directed to the Chief Compliance Officer at [email protected].