They mirror PE funds but are deal-specific:
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Management Fee: Often lower (e.g., 1.0% – 1.5%) or fixed as a monitoring fee.
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Performance Fee (Promote): Typically 20% of profits, but only after investors hit a Hurdle Rate (e.g., 8%).
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Deal Fee: A one-time closing fee (1-2% of deal value) paid to the sponsor for arranging the transaction.
