Hedge funds have charged their investors $1.8 trillion in fees from 1969 to the end of December 2024, according to data from hedge fund investor LCH Investments on Monday.

Of the $3.7 trillion in profits they have earned as an industry since 1969, nearly half or a staggering $1.8 trillion was gobbled up as fees, according to estimates by LCH Investments, a fund of hedge funds. With soaring assets, hedge funds have raised their charges to 50.4% of gains, up from the roughly 30% they earned until the early 2000s.

After hedge funds closed out 2024 with double-digit annual gains and strong alpha, new data shows managers' fees are taking a growing slice of gains.

Investors in hedge funds often gripe about high fees. A new report puts the problem in sharp relief.