Fee Income

See: Earning the Points.

Income from fees is sort of a pejorative term, in that it harkens the usurous fee structure that so many investment vehicles foist upon unsuspecting wealthy-but-financially-clueless investors, seeking to "beat the market." In some casinos, er, um, investing shops, the fee income refers to the 2% per year in fees to be charged to investors whether or not the fund performs well. Then there is often carry, which comes above and beyond that 2% as a profit participation bonus.

So "just" the 2% fee income can be a load of dough if the General Partners are able to raise a ton of dough and charge for it.