Does anyone have insight into what exit packages (i.e., let go from a GP not for cause; just pushed out) generally look like at various levels for MM buyout funds? Say $2-5Bn fund size? Curious the group's experience on this. I would guess something like this:
Associate: Nothing
VP: 3-6 months severance, partial carry vesting, no cash payout
Principal: 6-12 months severance, more carry vesting than VP, modest cash payout
MD: 12 months severance, full-ish carry vesting, large cash payout
Equity Partner: 12+ months severance, full carry vesting, maybe small carry in future funds, huge cash payout/ManCo buyout
Mostly curious when actual exit packages are provided. Do VPs typically receive anything? Or only reserved for MD+?
Thanks for any thoughts.
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