Question: What happened in Pennells fund when the $0.59 per dollar of investment was distributed to LPs? a. To the ongoing management fee due to the

What happened in Pennells fund when the $0.59 per dollar of investment was distributed to LPs? a. To the ongoing management fee due to the GP? b. To the 20% carry (performance fee) to be paid to the GP? c. To future capital calls on the LPs? d. To the calculation of the funds net asset value? 2. Where does fee income received by the fund come from? 3. What is the weighted average life of the fund?

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