medium · Private Equity pe-core
A secondary buyer evaluates an LP interest with a $20M NAV. They project future distributions of $35M with a present value of $20.9M at their target IRR. They also estimate $2M in future capital calls with a present value of $1.65M.
What is the buyer's offer as a percentage of NAV?
- 96.3%
- 103.7%
- 104.5%
- 90.0%
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