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Is it legal for a private equity fund partnership management company (with PE dual license) to sign the Entrusted Investment Equity Agreement with social individuals privately?
Illegal.

1.PE can be composed of two GPs. Article 61 of the Enterprise Legal Person Law stipulates: "A limited partnership enterprise shall have at least one general partner."

Second, performance appraisal can extract daily management fees and calculate performance rewards according to the performance of a GP's share of management (that is, the funds invested by GP). The disadvantage of this evaluation method is that it will lead to malicious competition between the two GPs, and the investment quality may be problematic. It can also be distributed according to a fixed proportion agreed in advance. But the latter method is easy to raise lazy people, and the responsibilities and rights are not equal. If you have to choose between the two methods, you can take the former assessment method, but you should strengthen the monitoring of LP and draw the proportion of funds under management in advance.

Third, the emergence of two GPs is also a special case. This situation should be avoided as far as possible. If possible, two general practitioners can be merged into one general practitioner. Shareholders of two general partners jointly contributed to form a general partner.