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Accrued Compensation and Benefits | 9. Accrued Compensation and Benefits Accrued compensation and benefits consist of the following:
(1) The acquisition of the Carlyle Aviation Partners, Ltd. (“Carlyle Aviation Partners”, formerly known as Apollo Aviation Group) in December 2018 included an earn-out of up to $150.0 million that is payable upon the achievement of certain revenue and earnings performance targets during 2020 through 2025, which is accounted for as compensation expense. See Note 3 to the consolidated financial statements included in the Company’s 2018 Annual Report on Form 10-K for additional information on the Carlyle Aviation Partners acquisition. (2) Certain employees of AlpInvest are covered by defined benefit pension plans sponsored by AlpInvest. No other employees of the Company are covered by defined benefit pension plans. (3) Includes $39.1 million and $207.0 million of realized performance allocations and incentive fee-related compensation not yet paid to participants as of June 30, 2022 and December 31, 2021, respectively. The following table presents realized and unrealized performance allocations and incentive fee related compensation:
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