Need advise on economics/carry

Work for an 1bn AUM growth equity shop. I joined around 6 months ago as a principal (not partner, the firm has one partner, a couple principals, few VPs, associates etc.). All in all around 15 people.

I brought in via a relationship of mine a completely proprietary deal - no agent, nothing. It's an off market opportunity with a 50mm cheque. Our fund is going to do 20mm and we are going to set up an SPV to bring in co-investors. The SPV will have super thin carry and no mgmt fees.

2.5% carry subject to a net 1.5x, step up to 5% carry subject to a net 2x, step up to 7.5% carry subject to a net 2.5x. full catch up along the way.

Low case net returns are 2.4x and 30% IRR, base case is 3x and 50% IRR, and high case is 5x and 90% IRR.

It is realistic that this deal does a 3x net and LPs get their capital back and full return within 2 years.

In terms of economics I proposed to my boss that we do a 3 years vest: 20% end of year 1, 30% end of year 2, 50% end of year 3. We will share the carry across the firm, so people that did nothing will still get some.

I have sourced, structured, done full DD, and sourced every co-investor for all 30mm and I am proposing to my boss to take half the carry (seems reasonable right?). He told me today he agrees with the vest but only wants to give me 28% of the carry...seems absurdly low as I could have just done the deal as an independent sponsor and got a warehouse to take part of the deal...

Curious if other people think my ask if 50% is fair. One principal is getting 8% even though he literally did nothing, didn't even know of the deal.

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I am permanently behind on PMs, it's not personal.

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