Priority share of partnership returns? What is it?
"1. The GP receives a priority share of partnership returns each year. 2. The investors then receive a 100% return of commitments advanced and a preferred rate of return (8%). 3. The carried interest holders receive 100% of all distributions until such time that they have received 25% of the investors’ preferred return (2 above). This is referred to as ‘catch up’. " What's the priority share of partnership? It is not management fee, or capital returned, or preferred return, or catch-up, or split. What is it?
https://www.icaew.com/-/media/corporate/files/tec…

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