A clawback returns carry that was paid early if the whole fund ends up earning less. Here the manager took $10M, earned $4M, and hands back $6M.
What the film says
Give the money back. First deal wins big. $10M carry. Later deals lose money. Total profit $20M. 20% is $4M. Took $10M. $6M goes back. Clawback.
In the glossary: Clawback
A simple example with round numbers, not advice. Terms vary by fund.
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