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      The Rise of the Pass-Through Expense Model

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      July 8, 2024

      The Rise of the Pass-Through Expense Model

      While the concept of a pass-through expense model is most often associated with multi-strategy alternative investment funds, this expense structure is beginning to gain wider traction among other managers as well, depending on various considerations. We summarize the rise of the pass-through expense model and discuss key considerations at the link below. Click here to view the full memorandum

      Authors

      This is Jay Baroody, a partner at Seward & Kissel.

      Jay Baroody

      (212) 574-1347

      baroody@sewkis.com

      This is Daniel Bresler, a partner at Seward & Kissel.

      Daniel Bresler

      (212) 574-1203

      bresler@sewkis.com

      This is Kevin Cassidy, a partner at Seward & Kissel.

      Kevin M. Cassidy

      (212) 574-1542

      cassidy@sewkis.com

      This is Michael Indelicato, a partner at Seward & Kissel.

      Michael Indelicato

      (212) 574-1618

      indelicatom@sewkis.com

      Low-angle view of a blue glass skyscraper on the left and the white, ribbed structure of the Oculus on the right, against a clear blue sky.

      Robert M. Kurucza

      (202) 661-7195

      kurucza@sewkis.com

      This is Nick Miller, a partner at Seward & Kissel.

      Nicholas R. Miller

      (212) 574-1359

      millern@sewkis.com

      This is Paul Miller, a partner at Seward & Kissel.

      Paul M. Miller

      (202) 661-7155

      millerp@sewkis.com

      This is Joe Morrissey, a partner at Seward & Kissel.

      Joseph M. Morrissey

      (212) 574-1245

      morrissey@sewkis.com

      A man with glasses and a blue sweater smiles, standing in front of a window overlooking a city.

      David R. Mulle

      (212) 574-1452

      mulle@sewkis.com

      This is Steve Nadel, a partner at Seward & Kissel.

      Steven B. Nadel

      (212) 574-1231

      nadel@sewkis.com

      This is Kevin Neubauer, a partner at Seward & Kissel.

      Kevin Neubauer

      (212) 574-1355

      neubauer@sewkis.com

      This is Pat Poglinco, a partner at Seward & Kissel.

      Patricia A. Poglinco

      (212) 574-1247

      poglinco@sewkis.com

      This is Christopher Riccardi, a partner at Seward & Kissel.

      Christopher C. Riccardi

      (212) 574-1535

      riccardi@sewkis.com

      This is Daniel Viola, a partner at Seward & Kissel.

      Daniel G. Viola

      (212) 574-1457

      viola@sewkis.com

      This is Alexandra Alberstadt, Counsel at Seward & Kissel.

      Alexandra Alberstadt

      (212) 574-1217

      alberstadt@sewkis.com

      This is Kris Swiatek, a partner at Seward & Kissel.

      Kris Swiatek

      (212) 574-1670

      swiatek@sewkis.com

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