3.c (4 points) Genius Partners, a private equity team of 3 experienced investors, is raising their first private equity fund: 10 -year, $200M in committed capital, annual management fee of 2% based on committed capital (during the life of the fund), carried interest of 20%, no hurdle. The same team had previously managed a captive fund* for a family (they did not charge any management fees or carried) and had generated a gross multiple of 2.5. What would the net multiple be for the Limited Partners (LPS) of the new fund if the team were to achieve the same gross performance