A limited partnership enterprise is actually a limited partnership fund enterprise, which is composed of general partners and limited partners. The general partner shall be jointly and severally liable for the debts of the partnership, and the limited partner shall be liable for the debts of the partnership to the extent of the capital contribution subscribed.

Limited partnership realizes the separation of enterprise management right and capital contribution right, and can combine the advantages of enterprise management and capital, so it is the main organizational form of foreign private equity funds. Blackstone and Sequoia, which we are familiar with, are partnership enterprises.