Deal expenses:
• Legal: $100-300k
• QoE: $20-70k
• Misc.: <$100k
• R&W insurance: ~1% (uncommon)
• Closing fee: 1-2% of EV
• Finder fee: Pretty rare (since the whole point of being a sponsor is to add value through sourcing), usually just baked into Misc., but can be somewhat significant (1-3%+) if the deal was sourced through Axial or buy-side broker.
• Capital raising fees: 2-8% of the debt and equity respectively (don't see these services used very commonly, and it's a negative)
So as you can see, as a percentage it depends on the deal size, but probably 3-7% is quite typical.
