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natalie2003 · 2020年11月28日

问一道题:NO.PZ201811130100000105

* 问题详情,请 查看题干

问题如下:

Based on Tseng and Collin’s estimate of NAV next year, the estimate of carried interest next year is closest to:

选项:

A.

$14.36 million.

B.

$22.18 million.

C.

$25.46 million.

解释:

A is correct.

Provided that NAV before distribution exceeds committed capital, the general partner is entitled to carried interest, calculated as the given 20% multiplied by the increase in NAV before distributions. So, the carried interest is calculated as follows:

Carried interest = 20% × ($242.32 – $170.52) = $14.36 million.

考点:绩效奖计算

解析:判断是否给GP发绩效奖,首先要看NAV before distribution 是否超过了committed capital。根据题目条件,NAV before distribution $242.32 million是超过了committed capital $115 million的,所以可以给GP发绩效奖。

绩效奖的计算= NAV before distribution的增加值*carried interest = ($242.32 - $170.52)*20% = $14.36 million.

老师您好,请问绩效奖的计算= NAV before distribution的增加值*carried interest 这个公式在哪里出现了呢?我

有个疑惑是,假设今年没有call down,假设去年没有提取业绩报酬,我分掉了部分收益,NAV下降了,从下降之后的NAV再做到了今年的before,和去年的Before相比我难道不是多赚出了分掉的部分么?为啥这部分不计奖金了?也就是说,假设我去年没有Distribution,今年我的before应该更高才对,为啥分掉了我就拿不到这部分多业绩报酬了呢?

1 个答案

韩韩_品职助教 · 2020年11月29日

嗨,从没放弃的小努力你好:


同学你好,这里不管是业绩报酬还是distribution,每年只要符合条件都要进行一次结算的,所以只要超过了committed capital,GP就会要绩效奖了,那么相当于一年的收益结算了之后,下一年我就基于和上一年的比较来看就可以。


-------------------------------
就算太阳没有迎着我们而来,我们正在朝着它而去,加油!


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