Private Equity Accounting

I know private equity firms frequently mark their investments to market. I want to know how/ when do private equity firms report profits from investing operations. In particular:

1) Do private equity firms record their portion of unrealized gain (meaning not yet realized performance fees) in the value of a portfolio company as revenue, or must they wait for gains to be realized?

1.5) On a related note, are performance fees collected before the value of an investment is realized?

2) In what quarter are management fees collected/ recognized as revenue?

 
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