If LP cancels their subscription, we either return the uninvested capital or roll the uninvested capital into the next quarter, based on the criteria in this article.
Example:
- LP puts in $25k/qtr for four quarters
- LP doesn’t continue their subscription from Q5 on
- GP only invested $50k (inclusive of fees and expenses) of the $100k from that LP
- The LP’s uninvested capital would be returned (minus fees and expenses).