What this costs, stated plainly

Item Rate

Management fee [X.X]% annually on committed capital

Carried interest [XX]% above a [X]% preferred return

Formation / administration [$X,XXX] one time, per vehicle

Custody and insurance (tangible assets only) [X.X]% annually, passed through at cost

Placement fees paid to us by sellers or issuers None

What that means: you can compute your net return before you commit. If a structure requires an exception to this schedule, it appears on the opportunity page in the same size type as everything else.

Compliance note: fee disclosure has to match your operating agreements and any Form D / adviser filings exactly. Have counsel reconcile this table against the documents before publication.