b'How much does a $100k Class A member own of Class A? Answer: 10%.How much does this same investor own of the total interests in a syndicate or fund? Answer: 7%; (10% owned in Class A x 70% Class A percent of total interests = 7% of the total interests in the syndicate or fund). Percentage interests are only used at specific points in time, and are subject to change until all capital has been raised and the asset manager declares the fundraising period to be over. The ownership percentages will continue to change with admission of each new member.Dilution When investors ask about dilution, you need to explain this to them. The percentage interests they own will fluctuate as you raise capital, but as you bring in additional members, the companys equity grows, so they may own a smaller percentage but, its a percentage of a larger piece of equity.Another way to explain this is that the first investor owns 100% of the Class A interests, if someone else invests the same amount, each own 50%. This division continues until all of the interests in that class are sold. The only way for an investor to guarantee a fixed percentage interest in your company is: a) to invest enough that you are willing to carve out a special class with a specific percentage interest just for them, or b) acquire all of the interests you are selling.Your lender will be interested in total percentage interests. They will have internal policies governed by bank laws and regulations, and usually 192'