第一个大case的答案可否也放到线上？

问题如下：

Q. Discuss how YYRPF may consider incorporating potentially long capital deployment periods in private asset classes such as real estate and infrastructure into its expectations of return performance for these types of investments.

选项：

解释：

YYRPF must commit funds to a GP months or years in advance of capital deployment, with little certainty regarding the timing or magnitude of capital calls. As a result, investors must often hold these commitments in more liquid public investments possibly with lower expected returns. Therefore, YYRPF’s overall return from the time of capital commitment through the investment life cycle will reflect a blended rate of return that includes both public and private market investment returns. If capital commitments are invested in lower-yielding public securities while waiting for capital to be deployed, the 10%–12% return estimates should be adjusted to reflect this situation.