medium · Private Equity pe-core

If the sum of discounted distributions (using public index returns) is $220 million and the sum of discounted contributions is $200 million, what does the resulting metric indicate?

1. The fund achieved a 1.1x total Multiple on Invested Capital, or MoIC.
2. The fund underperformed its benchmark, since the ratio sits close to parity.
3. The fund's internal rate of return, net of fees and carried interest, is exactly 10%.
4. The fund outperformed the public market by 10% on a cash-flow-weighted basis.

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