胖胖 · 2023年09月28日
Calculate carried interest - when do you use committed capital and when do you use Paid in Capital?
Because total return could be calculated through
(1) GP receives carried interest after the fund returns the entire committed capital to LP.
OR
(2) GP receives when the value of portfolio exceeds invested capital - so in this case aren't they talking about the cumulative paid-in capital?
pzqa35 · 2023年09月28日
嗨，努力学习的PZer你好：
This question is about the calculation of carried interest, which will only be levied if NAV before distribution exceeds the commitment capital, so it was only generated in 2009.
Total return measures the change in cash flow, which mainly depends on the calculation of cash flow. Total return's cash flow is call down cash flow+operating result, while net return is call down cash flow+operating result-management fee -carried interest.
The teacher gave an example in the performance evaluation of PE fund of the basic class, which detailed the calculation of these indicators. you can listen at a speed of 1.5 to have a deeper understanding.
----------------------------------------------就算太阳没有迎着我们而来，我们正在朝着它而去，加油！
