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A proliferation of different fee levels and structures is evident throughout the alternative investment industry, and business development companies (BDCs) are no exception. For instance, management and incentive fees within the BDC space vary widely between issuers, with management fees ranging from as low as 1 percent to as high as 2 percent of gross assets. Throughout the industry, common drivers for revisiting existing fee structures include changing market norms and pressure from investors. In this article, partner John Mahon talks to The Hedge Fund Journal about new BDC fee structures and future fee trends.