June 30, 2026
Image: Gerd Altmann via Pixabay
Investment managers are cutting fees across private markets after years of relative stability, with more than two-thirds of limited partners reporting lower direct lending fees over the past three years, according to a new report from investment consultancy Bfinance.
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![Anneka Treon on investing in Europe: "If you miss 25 years of compounding your wealth through investments, that really starts to hurt." Photo: Jeremy Fdida/Amundi.](https://images.investmentofficer.com/cdn/ff/hbFjyQn-TM76OkelqghUyqNUlWi35aTFXM-D1d-6Q_4/1781779917/public/styles/thumbnail/public/2026-06/Treon_0.png?itok=Wpbsxw6Y "Anneka Treon on investing in Europe: "If you miss 25 years of compounding your wealth through investments, that really starts to hurt." Photo: Jeremy Fdida/Amundi.")
