Limited liability partnership: Difference between revisions

A favourite means of structuring a {{tag|hedge fund}} which in the last decade or so has also become popular among law firms, now the partners are allowed limit their liability.

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|thin capitalisation]] limited liability corporation, so actually is fully limited in its liability.