Commission for bringing investors to $20M fund

[David M.]

Assume they are a licensed broker/dealer.

What are some standard deal structures for bringing LPs to us and over what time frame are they paid out? Any economic downturn clauses? 

Also curious if anyone has given GP equity before and what would be expected there? Rough %s I have in my mind are 3% on capital they bring + 1% GP equity but not sure on timeframe for payouts and clauses to prevent liquidity issues during downturn given our 2/20 model. 

I'm also guessing the GPs pay the placement fees out of pocket?