DPI measures the limited partners’ (LPs’) realized return in the fund. DPI is calculated as the cumulative distributions divided by the paid-in capital. Cumulative distributions for 2008 were $150 + $100 + $70 = $320. Paid-in capital in 2008 was $200 + $100 + $100 + $50 + $50 = $500.

The ratio of cumulative distributions to paid-in capital is $320/$500 = 0.64

RVPI measures the LPs’ unrealized return in the fund. It is calculated by dividing the NAV after distributions by the paid-in capital. NAV after distributions in 2008 was $518.5.

The ratio of NAV after distributions to paid-in capital is $518.5/$500 = 1.03