Assume a private equity fund only holds 2 investments. Investment A (purchased for$150M) is sold for $110M in year 1. Investment B (purchased for $330M) is sold for$350M in year 2. The fund has an 70/30 carried interest split and a deal-by-deal carried interest (as discussed in class). What is the clawback amount at the time of the funds liquidation?

$26M

$0M

$24M

$6M