LP (Limited Partner) agreements

A Limited Partner (LP) agreement is a contract between investors (limited partners) and a fund manager (general partner) in private equity, venture capital, or similar investment partnerships. The LPs provide capital but have limited liability, meaning they aren't personally responsible for the partnership's debts beyond their investment. In return, they typically receive a share of the profits. The general partner manages the investments and decisions. The agreement outlines the financial contributions, profit distribution, and governance rights, ensuring clear expectations and protections for all parties involved in the investment.