If its 2 and 20 with an 8% threshold at the end and we are...

If its 2 and 20 with an 8% threshold at the end and we are talking about a 3 year investment of $100000 returning 20% per annum,Blue Sky would get Management fees of say 3x2% =6% or $6000 over this period and performance fees of $72800 -8% =$66976 x 20%= $13395. This is approx 20% over a 3 year period or 7% a year. There would also be capital growth on sale for both investors and Blue Sky. Is this Rapacious ?