Permanent Capital comp
Any insight into how comp/carry typically works at a permanent capital vehicle?
Is there netting across portfolio companies and when is carry crystallized? Is it portfolio wide based on NAV?
Any insight into how comp/carry typically works at a permanent capital vehicle?
Is there netting across portfolio companies and when is carry crystallized? Is it portfolio wide based on NAV?
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I only have one datapoint but for this particular fund carry was crystallized at the sooner of i) the fund opening back up for new capital; and ii) every 5 years (resets with each fundraise)
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