Usually hedge funds charge a fee to all their investors. A management of funds fee or sometimes this can be a percentage of revenues
Pension funds etc are happy to pay it because their investments usually yield long term returns beyond what any bank interest would. And it’s easy for them. Hedges are basically the collective funds of investors, the companies effectively make investment decisions for them. Anyone can set one up, but good hedge funds/holding companies are rare. Wes Edens is an exceptionally clever man.
Since Fortress was taken over, it is likely Edens is probably working under some contractual arrangement where he is salarised/bonused to the hilt for performance, but he is likely still at the sharp end of deciding where to invest etc. That said, Wes probably also has some money in the Fortress hedge still.