Yes. It’s a pretty common conflict of interest between the manager of the fund (which has a strong incentive to raise new fund while they can as quickly as poss

Yes. It’s a pretty common conflict of interest between the manager of the fund (which has a strong incentive to raise new fund while they can as quickly as possible so will want to prop up any losers until the current round of fundraising is complete) and the investors in the fund (who may or may not also be invested in the manager itself).