Blackstone Looking To Eliminate Controversial Fee Practice (Bidness Etc)

According to a BidnessEtc.com article, the Blackstone Group L.P is planning to eliminate its practice of charging extra consulting fees due to increasing pressure from investors and regulators. It has agreed with its investors to cease charging fees. Fund expense practices have been in the spotlight since the SEC spoke negatively about the practice. The Convergence Fund Expense Practices Analyzer service provides empirical data that gives Advisors and Investors a view on common and uncommon expense disclosures and their use by advisors and peers for discussion about these fee practices.