Limited liability partnership
Jump to navigation
Jump to search
|
Legal Entities of the World™
A spotter’s guide to corporate wildlife
|
A favourite means of structuring a hedge fund which in the last decade or so has also become popular among law firms, now the partners are allowed limit their liability.
Hedge funds
Some types of fund (particularly private equity funds) are structured as a general partner, who acts also as the investment advisor and a number of limited partners who are the investors in the fund. The general partner has unlimited liability, but will be itself a thinly capitalised limited liability company, so actually is fully limited in its liability.
Law firms
Who cares about law firms?