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AZE Real Estate Fund produced a 15.57% annualized IRR. The fund terms were 10% preferred return (Pref), 50/50 catch-up and carried interest split of 80/20.

AZE Real Estate Fund produced a 15.57% annualized IRR. The fund terms were 10% preferred return (Pref), 50/50 catch-up and carried interest split of 80/20. What is the Breakeven IRR that has to be earned before AZE receives its full 20% carry?

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