Deal structure fair?

[Charlotte Dunford]

Good evening. Below is a scenario for a syndication deal. Would you say the following ownership/profit split structure is fair? Should I share the acquisition fee paid to me with my operative partner? How would you change it?

Equity structure:

20% - equity raising general partner (me)

20% - operative general partner/loan guarantor (loan guarantor, credit partner)

60% - LP equity (investors)

Returns:

12% preferred return to LP's

Fees paid to the equity raising GP (Me):

5% acquisition fee

3% asset mgt fee