Item 5: Fees and Compensation
The applicable fees for the Fund are set forth in the Fund’s Offering Documents. A brief
summary of such fees is provided below.
Management Fee
DFM is paid an investment management fee (“Management Fee”) of (i) two percent (2%) per
annum of the net asset value of the Fund during the investment period2 (“Investment Period”)
and (ii) following the Investment Period, one and one-half percent (1.5%) per annum of the
aggregate invested capital in the Fund (whether or not returned) as of the conclusion of the
Investment Period. The Management Fee is calculated as of the end of the preceding month
and will be payable monthly in advance and prorated for partial periods. The Management
Fee may be paid from capital called from the Investors or from amounts otherwise available
for distribution to the Investors.
DFM, in its sole discretion, may waive or modify the Management Fee for any Investor.
Acquisition Fee
DFM in connection with the acquisition, directly or indirectly through a special purpose
vehicle, of any real property by the Fund, the Manager (or its designated affiliate) shall be
entitled to receive from the Fund a one-time fee equal to approximately one percent (1%) of
the total property acquisition costs, including the purchase price and closing costs, which fee
shall be payable upon the closing of the acquisition of such property, as finally determined by
the Manager in its sole discretion. This acquisition fee will be in addition to the Management
Fee described above.
Other Types of Fees or Expenses
DFM and the Fund General Partner are authorized to incur and pay in the name and on behalf
of the Fund all expenses which they deem necessary or advisable.
The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses
related to rent, salaries, office equipment, computer equipment, supplies, wages, bonuses,
and other employee benefits.
The Fund bears all legal and other expenses incurred by DFM and its respective affiliates in
connection with the organization of the Fund and related entities and the offering of interests
therein. The fund also bears its own operating costs. These include, among other things: costs
and expenses relating to the actual or proposed acquisition, holding or disposition of assets
(including due diligence and costs of third party advisors incurred in connection therewith)
and certain other costs related to the ownership of assets; costs and expenses associated with
negotiating and entering into contracts and arrangements in the ordinary course of the Fund’s
business; audit, accounting, tax preparing and reporting, and other professional fees and
2 The Fund may make new investments during the period (the “Investment Period”) commencing on the First Closing Date
and ending on the 30-month anniversary of the First Closing Date. The Manager may extend the Investment Period twice
by up to two additional years upon providing the Investors with notice of such extension. Following the end of the
Investment Period, the Fund may not make investments other than (i) investments committed to prior to the end of the
Investment Period and (ii) follow-on investments in an aggregate amount (for all follow-on or additional investments in
existing investments funded after the end of the Investment Period) not exceeding 20% of total capital commitments.
Decennial Fund Management LP Form ADV Part 2A Brochure
expenses; legal fees (including fees paid to the Manager’s counsel for services for the Fund’s
benefit); governmental fees and taxes (not including withholding taxes attributable to
particular Investors); costs of reporting to the Investors; costs of Fund governance activities
(including any meetings of Investors); costs of compliance with regulatory or reporting
requirements applicable to the Fund (including costs of preparing and submitting any reports
for purposes of qualifying or maintaining the Fund’s qualification as a qualified opportunity
fund); indemnification amounts payable to persons entitled to indemnification under the
constituent documents; borrowing costs; the costs of forming and maintaining any special
purpose vehicle; and all other reasonable expenses related to the Fund’s operations or the
purchase, sale, or transmittal of assets.