Multiples? As far as I can tell, they've raised the equivalent of $10/share and it's pricing just below that post-ipo. But I think it's all just cash now waiting for Watsa, et al. to deploy it. It does appear to be available to US investors via Fidelity through their international desk, though they basically have to manually route the trade from what I heard.
I'm curious what you all think about the fee structure. From the prospectus, it looks like a 1.5% on AUM invested, 0.5% on the remaining cash, and 20% of performance above the larger of a high-water mark, or hurdle rate --- which seems to be 5% annualized. Does that seem like a reasonable fee to hire Prem and his team to manage your Indian investments?
