hard · Private Equity
An LP sells a partnership interest with a total commitment of $100M and a current paid-in capital of $80M. The fund's reported NAV for this interest is $80M, but the buyer applies a 15% discount to NAV.
What is the realized loss for the selling LP on a cash-on-cash basis?
- $12.0M
- $20.0M
- $15.0M
- $3.0M
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