PE Glossary
LP (Limited Partner)
LP · An investor in a PE fund. LPs commit capital but do not manage the fund's investments. Typical LPs include pension funds, endowments, sovereign wealth funds, insurance companies, and family offices.
Example
A US state pension fund commits €50M as an LP in a European buyout fund. The pension fund has limited liability (capped at the €50M commitment) and no operational control · the GP makes all investment decisions and reports back quarterly.
Related terms
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