A $200M fund with a carry percentage of 20% and a carry basis of allcommitted capital, a priority return of 10%, and a 100% catch-up. Imagine that all committed capital is drawn down on the first day of the fund, and that there are total exit proceeds of $320M, with $250M of these proceeds coming exactly one year after the first investment, $30M coming one year after, and $40M coming the year after that.
 
a. Determine the distribution of profits of GPs with the catch-up
b. without the catch-up provisions