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An $ 8 1 5 m private equity fund charges a constant 2 % management fee and a 2 0 % carry. The fund makes

An $

815

m private equity fund charges a constant

2 %

management fee and a

20 %

carry. The fund makes the following investments and receives the following proceeds:

Investments and Proceeds

.

What carry, if any, does the GP receive?

.

What are the gross and net return multiples?

.

What are the gross and net IRRs? How did this fund perform?

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