Year 0

Year 1

Year 2

Year 3

Year 4

NAV

DA

SBDA

Alpha amount

(1)

(2)

(3)

Case 1

Capital Call

1000

0

60

0

0

300

3.87%

4.00%

107.64

122.62

115.13

Distribution

0

560

0

280

240

Case 2

Capital Call

500

500

60

0

0

300

7.77%

6.43%

165.61

188.29

176.95

Distribution

0

560

0

280

240

Case 3

Capital Call

500

0

560

0

0

300

12.24%

7.89%

197.92

224.76

211.34

Distribution

0

560

0

280

240

Case 4

Capital Call

1000

0

60

0

0

300

4.72%

4.82%

141.44

158.35

149.90

Distribution

0

560

0

0

520

Case 5

Capital Call

1000

0

60

0

0

300

5.59%

5.73%

142.84

158.05

150.45

Distribution

0

560

280

0

240