Private equity funds are living in the past, when it comes to charging fees, says Mark Anson, new CEO of Hermes, and he says it’s time for a change. Anson, formerly with The California Public Employees' Retirement System, says he has a problem with the current fee structure. It was fine, say, a decade or so ago, when p.e. firms were smaller and had to impose 2/20% management/performance combo to generate cash to run their operations.