Item 5 - Fees and Compensation
All investors and potential investors should review the Governing Documents for the Funds in conjunction
with this brochure for more complete information on the fees and compensation payable with respect to the
Funds.
Akaris Global and its affiliate, the Funds’ general partner, Akaris Global Partners Gen Par LLC (the “General
Partner”); receive an annual management fee that ranges from 1.0% to 1.75% of assets under management,
and an annual performance allocation that ranges from 12.5% to 20% of net profits. Initial investors pay
reduced fees, as described in the offering documents of the Funds. Management fees are generally collected
quarterly in advance, while incentive allocations are generally assessed annually and are subject to each
investor’s respective high water mark. Akaris Global debits management fees directly from the Fund’s
custodial accounts, and any incentive allocations are assessed directly against investors’ capital account
balances; investors are not invoiced for the Company’s services. The management, performance allocation
and other fees described above are generally subject to waiver or reduction by Akaris Global in its sole
discretion with certain investors. The management and performance fees may vary by Client Account. The
Governing Documents will specify the fees applicable to the Client Account. For example, investors in the
Funds who are associated with Akaris Global, such as its officers or employees, or their family members or
friends, generally do not pay management fees or incur performance fees though they do pay their pro-rata
share of private fund operating costs.
In addition to management fees and incentive allocations, investors in the Funds bear expenses including,
without limitation: (i) expenses incurred in connection with the evaluation, acquisition, monitoring or
disposition of the Funds’ investments (whether or not consummated), including private placement fees, sales
commissions, appraisal fees, certain taxes, brokerage fees, underwriting commissions and discounts,
expenses related to short sales, legal, accounting, investment banking, consulting, information services and
professional fees, research fees, interest and commitment fees, transfer taxes and premiums, travel and
communications and all other expenses related to the discovery, investigation, development, making and
disposition of investments or proposed investments; (ii) expenses incurred in connection with the carrying
or management of the Funds’ investments, including interest and related expenses and custodial, trustee,
record keeping and other administrative fees and expenses; (iii) expenses incurred in connection with any
leverage or other indebtedness of the Funds; (iv) expenses incurred in connection with the preparation and
delivery of the Funds’ financial statements, reports, tax returns and K-1’s (or similar schedules); (v)
attorneys’ and accountants’ fees and disbursements; (vi) taxes and other governmental charges levied against
the Onshore Fund; (vii) insurance premiums or expenses in connection with the activities of the Funds
(including in respect of errors, omissions, fidelity, general partner liability, directors’ and officers’ liability
and similar coverage for the General Partner or its affiliates and related entities, and any other person acting
on behalf of the Funds, the General Partner, the Company or their respective affiliates); (viii) expenses
(including legal fees and expenses) incurred to comply with any law or regulation related to the activities of
the Funds or incurred in connection with any litigation or governmental inquiry, investigation or proceeding
involving the Funds, including the amount of any judgments, settlements or fines paid in connection
therewith; (ix) expenses incurred in connection with any restructuring or amendments to the constituent
documents of the Funds and related entities, including the General Partner; (x) expenses relating to on-going
offerings of the Interests in the Onshore Fund, including any “blue sky” filing fees; (xi) expenses incurred
in connection with dissolution and winding-up or termination of the Onshore Fund; (xii) expenses incurred
in connection with the Funds’ indemnification obligations; (xiii) expenses incurred in connection with
administration fees payable to an administrator of the Funds; (xiv) expenses incurred in connection with
computing the value of the assets of the Funds; (xv) expenses incurred in connection with the preparation
and delivery of reports of the Funds and any meetings with investors; and (xvi) expenses related to complying
with Sections 1471 through 1474 of the U.S. Internal Revenue Code of 1986, as amended (the “Code”).
To the extent that any of the foregoing expenses relate to the operations of one or more other funds or
accounts managed by the General Partner, the Company or any of their respective affiliates, the General
Partner will attempt to allocate such expenses based on a good faith determination of the relative benefits of
such expenses to all such funds and accounts benefiting from such expenses.
The General Partner and the Advisor will bear all of their own overhead expenses (“Overhead”). Overhead
will include rent, employee compensation, employee benefits (including health insurance), furnishings and
certain office expenses. The Governing Documents will specify the expenses to be borne by the Client
Account.
The allocation of these costs to the Client Accounts, rather than to the Company, creates a conflict of interest
for Akaris Global. Expense allocation practices differ for various investment advisers and private fund
complexes, and in some cases expenses that are the same or similar to those listed above may be borne by a
private fund complex’s investment adviser. Any expense common to any other private fund clients or
accounts managed by the Company or its affiliates generally will be paid pro rata by such entities based on
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