Item 5: Fees and Compensation
A description of how Hatteras is compensated for its advisory services is summarized below. Fees
and other expenses not disclosed here may be incurred by the Funds, such as but not limited to,
fund administration fees, fund accounting fees, custodian fees, audit fees and transfer agency fees
and expenses, as applicable and further detailed in each Fund’s prospectus or offering document.
The fee structures are reviewed annually, with the fee structures for the Hatteras Core Alternatives
Fund reviewed with the Board of Directors during the Annual 15(c) Board of Directors Meeting.
Hatteras Core Alternatives Funds
The Master Fund will pay the Investment Adviser a management fee at an annual rate of 0.10%
and an administration fee at an annual rate of 0.15%, payable quarterly in arrears, based upon the
Master Fund’s net assets as of each quarter-end. Although the Feeder Funds will not pay any direct
investment management, advisory, or administration fees, the Feeder Funds will bear, as a result
of their investment in the Master Fund, their allocable portion of the management fees and
administration fees charged to the Master Fund. The Adviser has not received an investment
management fee since March of 2024.
As compensation for the services rendered by the Agent, each Feeder Fund intends to pay
compensation to the Investment Manager for fund services in accordance with a fund servicing
agreement between each Feeder Fund and Hatteras (in such capacity, the “Servicing Agent”). The
Servicing Agent receives a quarterly fund servicing fee (the “Fund Servicing Fee”) equal to 1/4th
of 0.65% (0.65% on an annualized basis) of the aggregate value of each Fund’s net assets as of the
end of each quarter. The Fund Servicing Fee payable to the Servicing Agent will be borne pro rata
by all Partners of each corresponding Feeder Fund before giving effect to any repurchase of Units
in a Feeder Fund effective as of that date and will decrease the net profits or increase the net losses
of the Feeder Fund that are credited to its Partners. The Servicing Agent may waive (to all
investors on a pro rata basis) or pay to third parties all or a portion of any such fees in its sole
discretion. The Servicing Agent may delegate some or all of its servicing responsibilities to one or
more service providers.
In addition to the management fee and administration fee, as detailed in Item 6, Hatteras will be
entitled to receive a Performance Allocation.
Effective March 31, 2024, Hatteras Investment Partners, LP entered into an agreement with the
Hatteras Master Fund to waive the entirety of the Performance Allocation for the twelve-months
ended December 31, 2022, in the amount of $698,890. The Fund agrees to carry forward, for a
period not to exceed three years from March 31, 2024, all of the 2022 Performance Allocation
waived pursuant to this Agreement, and to repay the Adviser 10.0% of the 2022 Performance
Allocation for each $31,042,357 returned to the Fund’s limited partners upon the completion of
the pending liquidation of the Fund. To the extent that the full amount of such waived amount or
expense paid cannot be repaid as provided in the previous sentence within such applicable three-
year period, such repayment obligation shall be extinguished.
Hatteras – Form ADV – Part 2A Page 6 March 28, 2025
Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the
Hatteras Master Fund to waive the entirety of the outstanding Management Fee, in the amount
of $955,597. The Fund agrees to carry forward, for a period not to exceed three years from March
31, 2024, all of the outstanding Management Fee waived pursuant to this Agreement, and to repay
the Adviser 10.0% of the outstanding Management Fee for each $31,042,357 returned to the
Fund’s limited partners upon the completion of the pending liquidation of the Fund. To the extent
that the full amount of such waived amount or expense paid cannot be repaid as provided in the
previous sentence within such applicable three-year period, such repayment obligation shall be
extinguished.
Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the
Hatteras Core Alternatives Fund, L.P. to waive the entirety of the outstanding Fund Servicing Fee,
in the amount of $92,822. The Fund agrees to carry forward, for a period not to exceed three years
from March 31, 2024, all of the outstanding Fund Servicing Fee waived pursuant to this
Agreement, and to repay the Adviser 10.0% of the outstanding Management Fee for each
$31,042,357 returned to the Fund’s limited partners upon the completion of the pending
liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid
cannot be repaid as provided in the previous sentence within such applicable three-year period,
such repayment obligation shall be extinguished.
Effective April 1, 2024, Hatteras Investment Partners, LP entered into an agreement with the
Hatteras Core Alternatives Institutional Fund, L.P. to waive the entirety of the outstanding Fund
Servicing Fee, in the amount of $110,906. The Fund agrees to carry forward, for a period not to
exceed three years from March 31, 2024, all of the outstanding Fund Servicing Fee waived
pursuant to this Agreement, and to repay the Adviser 10.0% of the outstanding Management Fee
for each $31,042,357 returned to the Fund’s limited partners upon the completion of the pending
liquidation of the Fund. To the extent that the full amount of such waived amount or expense paid
cannot be repaid as provided in the previous sentence within such applicable three-year period,
such repayment obligation shall be extinguished.
Hatteras Evergreen Private Equity Fund
The Hatteras Evergreen Private Equity Fund will pay a management fee to the Investment
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