PlanFees

PlanFees provides software and advisory services that model the economic impact of alternative investment fee structures. Its platform stress-tests management fees, carried interest waterfalls, catch-up provisions, and clawback mechanics across private equity, venture capital, private credit, real estate, and infrastructure fund scenarios. The output helps limited partners compare net-return outcomes under different fee proposals and supports investment committee decisions with quantitative fee diligence.

Benchmarking services typically report industry medians for management fees and carried interest based on survey data — useful context but static. PlanFees runs scenario-driven simulations that show how a specific fee schedule affects net IRRs under varying fund performance outcomes. This converts fee analysis from a market-practice check into a fund-specific risk assessment, allowing allocators to quantify how much a given fee structure costs them across a distribution of possible returns.

The platform covers standard institutional fund structures including commingled private equity and venture capital vehicles, deal-by-deal waterfalls, private credit funds with complex incentive fee tiers, and real estate and infrastructure partnerships. Its modeling accommodates European-style whole-fund waterfalls, American-style deal-by-deal structures with catch-up provisions, and hybrid arrangements that combine elements of both.

No. PlanFees is a technology and advisory provider, not an investment manager. It does not raise funds, allocate capital, or take balance-sheet positions. The firm sells software licenses and consulting engagements to institutional investors and general partners seeking fee analytics — a pure fee-for-service model with no co-mingling of investment interests.

Both constituencies use PlanFees, though in different ways. Limited partners — pension funds, endowments, sovereign wealth funds, and family offices — use the platform to diligence proposed fee terms and compare net-return outcomes across manager finalists. General partners use it to stress-test how different fee designs affect their economics under various fund performance scenarios, which informs term-sheet design and LP negotiation strategy.