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✨ EY Prep 🩷
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Private Equity
🎲 Mixed
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What is a 'clawback' provision in a PE fund agreement?
A.
The right of the GP to call back LP capital for follow-on investments
B.
The right of LPs to reclaim carry already paid to the GP if final fund returns fall below the hurdle
C.
The right of the portfolio company to buy back shares from the PE fund
D.
The mechanism by which the GP claws back management fees if investments underperform