NO.PZ2018053101000030
问题如下：
Fill in the blanks with the correct words: An American waterfall distributes performance fees on a(n) ___________ basis and is more advantageous to the ___________.
选项：
A.deal-by-deal; LPs. B.aggregate fund; LPs. C.deal-by-deal; GP.解释：
C is correct. American waterfalls, also known as deal-by-deal waterfalls, pay performance fees after every deal is completed and are more advantageous to the GP because they get paid sooner (compared with European, or whole-of fund, waterfalls).
为什么对GP好？一个项目一结不是对LP好吗？
