Private equity structure and payment streams supposed touch works Inc. is the only qualified institutional investor and a private equity fund managed by punch capital a private equity company touch your works has made a private equity commitment of $$500$ million to the fund and the general partners at hunch capital are not obligated to commit any personal funds. Also suppose that punch charges touch works $82\%$ management fee. In addition to any drawn down funds that does not need to be repaid. Lastly, the firms have agreed to an $8020$ split with $80\%$ going to the limited partners and $20\%$ going to GPS at punch after a hurdle rate of $10\%$ in this purchase who would be considered the limited partner of the private equity fund.