Institutional investors have made their voices heard, and more than the threat of added regulation (which may not materialize), that has led to some interesting changes. We've noted that hedge funds have indeed been humbled and are making big changes in fee structure, lock up periods, governance changes, reporting changes and a grater reliance on third-party administrators.

Pensions & Investments offers some examples. Citadel will soon launch single-strategy hedge funds with reduced fees compared with Wellington and Kensington multistrategy funds. Diamondback Capital Management is one of several that has launched a new share class that offers reduced fees in exchange for a longer lockup period. These are all positive developments. 

For more:
- here's the article

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