Glossary of Private Equity Performance Terms
Average IRR The arithmetic mean of all IRR figures in a given sample of results. Called-up % The proportion of LPs' commitment to a fund that has already been contributed, including any management fees called. Carried Interest The share of fund's net investment gains earned by the GP, usually on a whole fund basis, in the case of private equity, after the fund has returned the cost of investment to the LPs. The industry norm is 20%. Distributed (Distributed to Paid-in or