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5TimingofDividendPaymentsWhenaredividendspaidsubsetofdealswithaccumulatingdividendsReturnofCapitalinanIPOIfyourfundacquiresaParticipatingPreferredStockdoyougetyourpreferencecapitalreturneduponIPOAccumulatedandpaidattimeofliquidityPaidcurrently928YesNostockconvertstocommoninIPO5446chaRacteRIstIcsofbuyeRsecuRItIes2TypesofSecuritiesTypicalSecuritiesPurchasedbyBuyoutSponsorsParticipatingPreferredStockorsimilarLLCinterestsentitledtobothreturnofcapitalwithorwithoutaccumulateddividendsandapro-ratashareoftheresidualequityinterestPreferredStockorsimilarLLCinterestsentitledtothegreaterofreturnofcapitalwithorwithoutaccumulateddividendsorapro-ratashareoftheresidualequityinterestAstripofRedeemablePreferredStockandCommonStockCommonStockOther6.339.629.210.414.5