3.e ( 3 points) Oulala Partners is a small private equity fund, which, at the end of its 10 -year life, makes its first and last distribution to its LPs. The total amount that the LPs contributed is $25 million. The fund's hurdle corresponds to an additional $10 million for the LPs to get before the GP gets any carried interest. If the GP benefits from a 75% catch-up provision, which is the minimum amount of total proceeds after which the 80/20 split will start to apply? In other words, after which lowest amount of total proceeds would the catch-up provision have been unnecessary