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Fund Operations

If choosing to set a percentage for the Recycled Amount in the LPA, can we say "up to x%" or will we be required to recycle the exact percentage we choose to commit?

Can we say "up to x%" or will we be required to recycle the exact percentage we choose to commit?
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Answered by

Haw Kuo

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The Recycle Amount percentage, as set forth in the Cornerstone LPA, will be the upper limit of what is able to be recycled and deployed - however a fund manager is not required to deploy up to that exact Recycled Amount percentage (and in fact this would be very unusual). 

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