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A private equity fund acquires a company at HKD2mm on Jan 1, 2021 and sells the same company for HKD3mm on Dec 31, 2022. The

A private equity fund acquires a company at HKD2mm on Jan 1, 2021 and sells the same company for HKD3mm on Dec 31, 2022. The hurdle rate is 8% p.a. and the general partners do not have catchup. Limited partners contribute all the capital.

Ignoring the management fee, the leverage, the acquisition and disposition fees, please calculate the total cash proceeds to the limited partners on Dec 31, 2022.

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