In the case of an exit the distributions are paid to the SPV. Odin then passes the capital/shares directly to the investors in the syndicate in accordance with any agreements the syndicate has in place. In case any distribution event were to take place you will receive a notification at the email address associated with your investor account with which you made the fund or SPV investment.
In any liquidity event, standard tag along and drag along terms, as outlined in the shareholders agreement, will apply.
In a scenario such as an IPO, where an investor may choose to hold their shares rather than sell immediately, the investor must act in good faith with regards to honouring the terms of their carried interest agreement with the syndicate lead. This will typically mean liquidating sufficient shares to cover the payment of carried interest to the syndicate lead. The investor may, however, maintain the rest of their holding, and they would set up a brokerage account in their own name in the event of an IPO.