When do you realize carry for the first time in Pe?
If you join a fund post mba and get 25 bps of carry or whatever - when do you realize it?
So lets say you join a 12bn usd fund, and it is halfway through investing in jts latest fund. Would the first portion of carry you realize be in a couple of years when it is deployed?
Is it deal by deal or fund-level?
Budget around 7-8 years since the fund made its first investment. Can be earlier if things go well.
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