In late February, it was announced that a stacked lineup of artists would come together for a special late-night during Jazz Fest at the Howlin’ Wolf to pay tribute to the countless musicians that the world lost in 2016, dubbed Fu*k 2016: A Funky Tribute To Musicians We Lost. It was a rough year overall, but music always seems to find a way to make such losses tolerable. On Sunday, April 30th, during the first weekend of festivities, members of Turkuaz, The Motet, KDTU, Eric Krasno Band, Allen Stone, and more will play what is sure to go down as a night to remember at this year’s Late-Nite Jazz Fest series at the Wolf. And now, Snarky Puppy percussionist Nate Werth will join the laundry list of incredible artists.Initially, Turkuaz’s Michelangelo Carubba, Craig Brodhead, and Shira Elias, were named along with The Motet’s Joey Porter, Garrett Sayers, and Lyle Divinsky, to explore the music of fallen artists such as Prince, David Bowie, George Michael, Maurice White, Bernie Worrell, Phife Dawg, Leonard Cohen, and many more. As the weeks have passed, Khris Royal of Rebelution, Maurice “Mobetta” Brown of SOUL’D OUT, D.J. Williams of Karl Denson’s Tiny Universe, Danny Mayer of the Eric Krasno Band, Steveland Swatkins from Allen Stone, and fellow Turkuaz vocalist Sammi Garett have come on board to fill out the complete lineup.As support to the Tribute, RumpleSTEELskin with members of The Revivalists will open up the evening. The London Souls have also been tapped to play the late-late show over in The Den after the show. It’s going to be a party, that’s for sure.Full Fu*k 2016: A Tribute To Musicians We Lost LineupMichelangelo CarubbaJoey PorterGarrett SayersLyle DivinskyCraig BrodheadShira EliasNate EdgarDJ WilliamsDanny MayerSteveland SwatkinsKhris RoyalMaurice “Mobetta” Brown– SHOW INFO –Artist: Fu*k 2016: A Tribute To Musicians We Lost featuring members of Turkuaz and The MotetVenue: Howlin’ Wolf – 907 S. Peters Street – New Orleans, LA 70130Date: Sunday – April 30th, 2017Price: $25adv / $35dosAges: 18+Tickets: Click Here
Investors in private equity are increasing their control over terms and conditions, resulting in lower fees, according to research by Preqin.The data firm found that two-thirds (67%) of clients reported having rejected investments due to unfavourable terms.However, one-third (33%) of investors said they had seen an overall improvement of private equity terms in their favour in the past 12 months.Four in five (79%) buyers agreed manager interests were aligned with those of clients, compared with 70% a year ago and 63% in 2014. “The findings,” Preqin says in its report, “reveal that investors have increased their leverage over fund terms, and their negotiating power has grown significantly as [managers] are eager to secure institutional capital in a competitive fundraising environment.” Source: PreqinInvestors in private equity are becoming gradually more satisfied about alignment of interests with fund managers.The data firm found that buyout funds launched since the start of 2015 and those currently fundraising had an average management fee of 1.78%, while 84% had a performance fee of 20%.However, Preqin warned managers that “misaligned interests … cannot be solved purely by lowering headline fees”.Managers also need to demonstrate an ability to generate above-average returns and consider other aspects of contracts, Preqin said, including governance structures, performance fees and rebates.Preqin’s research also reported a correlation between lower management fees and top-quartile performance.“Across different fund sizes, top-quartile private capital funds consistently have low average management fees,” Preqin said.This is particularly noticeable in smaller private capital funds, including real estate, infrastructure, debt and commodities funds.Top-quartile funds with less than $50m (€47m) in assets charged an average 1.24% annual management fee, while third-quartile funds in the same size range charged 2.08% on average.Funds with more than $1bn in assets charged broadly the same fees, Preqin found.“At the same time,” Preqin said, “it appears that top-quartile private capital funds account for a greater proportion of those funds that charge higher carried interest rates, and which apply higher hurdle rates to their funds.”More than half (56%) of funds with a high hurdle rate – defined as greater than 8% – were in the top or second quartile for performance, Preqin added, “as firms look to further align their interests with those of investors”.