Seeking Advice on Equity Structure

You'll see a much wider range of structures depending on how sophisticated your investors are. I think Abhishek's ranges are generally consistent with what I've seen. Don't typically see management fees, but salary and bonus are part of the whole package since the "GP" in this context is often one or two individuals, not a PE fund (though in an LLC structure you aren't technically paying a salary to any members--it's treated a bit differently).

Nick- I come from the same world.The equity structures I’ve seen are best described as one of two ways 1) mezz/preferred equity for all the equity capital you need with maybe a 10-20% equity kicker; or 2) 50% promote after a 8-10% pref hurdle.Yes, this asset class is a lot more lucrative from a few perspective than real estate; however the PGs in SBA loans etc seem to be highly restrictive in scaling unlike real estate.Also, with respect to asset management fees, you can add yourself to the business as a salaried employee, regardless of the equity structures mentioned above.