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Private Partner Ventures is a private equity fund that just formed a new $6.5 billion fund. They recently made their first capital call for

 

Private Partner Ventures is a private equity fund that just formed a new $6.5 billion fund. They recently made their first capital call for $300 million. If they use a standard 3/20 fee structure, what is their management fee in the first year? HINT: Management Fee is paid on committed capital. Management fee

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