Understanding Recycled Amount Commitments in LPA

Asked by

Community Member

May 03, 2023

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?

2 See in Base

Answered by

Haw Kuo

Jul 31, 2023

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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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?

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