Depending on whether a fund is still in its reinvestment period, they may also not be able to put that money to work - it may automatically go back to the LPs,

Depending on whether a fund is still in its reinvestment period, they may also not be able to put that money to work - it may automatically go back to the LPs, who aren't generally very happy to just get their money back when they're expecting 25% or higher IRRs.