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The Sharpe Angle: Aperture Investors CEO on rethinking the active management model

When Peter Kraus founded Aperture Investors, he deviated from the traditional active management model. Rather than raking in fixed fees, Kraus' $3.8 billion firm operates on a fee structure linked to performance, charging 30 percent of alpha. That's higher than the industry standard, but since inception, about half of Aperture's funds have delivered alpha above their benchmarks. Kraus sat down with CNBC's Leslie Picker to explain why he's focused on a pay-for-performance set-up and how he's putting capital to work in the current environment.


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