SB Value Partners does not charge an annual management fee for separately managed accounts or to the partnerships. Instead, they receive a performance-based profit participation. The profit participation is 20% for SAB Equity Partnership, L.P. and 25% for SAB Capital Markets L.P., SAB High Yield Capital Markets L.P. and the Separately Managed Accounts. Institutional Asset Management accounts are charged a fixed fee between $25,000 and $100,000. Institutional Efficiency Optimization Consulting is billed hourly.