Assume a $150 million contribution by the LPs in the first year to fund an investment, an 12% hurdle rate, a 100% catch-up, an 80/20 carry split, and the sale of the investment by the fund in the second year for $300 million.

	LPs	GP
Original contribution	-$150 million	N/A
Sales: $300 million	N/A	N/A
Return of capital	$	N/A
Preferred return for LP	$	N/A
Catch-up for GP	N/A	$
80/20 split	$	$
Closing balance	$	$