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The Fund invested $500 million in equity. The fund terms are as follows: -European Waterfall -LP Preferred Return of 8% -Catch-up is 100% -Carried Interest

The Fund invested $500 million in equity. The fund terms are as follows: -European Waterfall -LP Preferred Return of 8% -Catch-up is 100% -Carried Interest split is 80/20 -Management fees are outside the commitment (they do not need to be paid back before carried interest is paid) The Fund was a 10-year fund and was fully liquidated after 10-years for total proceeds of $2,500 million. What is the dollar figure for the 100% catch-up?

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