Is it common to wait for new fund to receive carry?
Partners have indicated that I will be entitled to carry with next fund which will have a new management company to manage the fund and receive carry. Current fund invested for c. 50%. Expect that we will invest remaining 50% in next 1.5-2.0 years and raise next fund in the meantime. This will however mean that I'll be working on portfolio companies acquired with the current fund for another 5-7 years, while I have 0 carry incentive. Is that common?