0,123 Inflows: ANRP II ($400 million) and managed accounts (5300 million including 5240 million transfer) Realizations: Fund VII (5660 million) and Fund VI ($290 million) driven by Veritable Maritime, Norwegian Cruise Lines, and Nine Entertainment RIarket Activity: 2% depreciation in traditional PE fun

.7 million HO ((prop sharing. would be paid to the general panner As of December 31. 2015. Fund VII had no earned intern held in escrow. MA raven to Fund VI. realised carried Minya income carrot* dila-Antal to the general partner ti limited to lea dioribution, per thefund} partnership agreement. (2) AAA

3.1 million associated with recognized realized gains. which was previously reversed due to the estimated general partner obligation attributable to Fund VI. (2) As of December 31. 2011. the Company recorded a general partner obligation to return previously distributed carried interest income of $75.3 m

on was not subject to the indemnity discussed above and is a receivable from the Contributing Partners and certain employees. In addition, assuming Fund VI is liquidated on the balance sheet date, the Company has also accrued a liability to Fund VI of $75.3 million, in connection with the potential gene

% lower than 1Q14's 84c div. Our 2015 dividend of 1.96c is 6% below consensus and we see downside risk of —36c if the cash performance fees held in Fund VI escrow are not released this year (we expect this is released in 4Q15, but if timing is pushed out then our 2015 divi declines to 1.60c which is 23

veral means such as debt exchange offers and the purchase of portfolio company debt at discounts to par value. For example. as of December 31. 2011. Fund VI and its underlying portfolio companies purchased or retired approximately $19.4 billion in face value of debt and captured approximately $9.6 billio