Altaroc
Glossary

DPI or Distribution to Paid-In capital

The Distribution to Paid-In ratio is used to measure a fund's performance. It is the ratio of capital actually returned by a fund to its investors.

DPI =Sum of distributions received by investors at time t divided by Paid-in Capital (the sum of capital calls at time t).

DPI does depend on actual cash flows, so it's a performance achieved net of expenses.

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Odyssey
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