LP is a limited partner.

The general partner shall bear unlimited joint and several liability for the debts of the partnership.

The limited partner shall be liable for the debt with the amount of capital contribution subscribed.

The general partner has overall management and control over the fund affairs and has the right to sign legal documents on behalf of the partnership fund. According to the regulations, the general partner can invest about 65,438+0% of the total capital of the Fund and enjoy about 20% of the investment income of the Fund. Of course, the share base is usually the balance after deducting the principal and interest costs, and sometimes the benchmark income is deducted, and the income is calculated according to the combination of all investment projects of the fund.

A limited partner may contribute capital in cash, in kind, intellectual property rights, land use rights or other property rights, but may not contribute capital in labor services. A limited partner may transfer his share of property in a limited partnership enterprise according to the partnership agreement, but shall notify other partners 30 days in advance.

Extended data

First, the advantages and disadvantages of gp and lp.

1, "priority" and "inferior level" represent the order of income distribution, and the priority and inferior level represent different subscribers of P, and their "priority" and "inferior level" are determined by income requirements and investors' risk tolerance. Usually, after the priority has achieved a lower fixed return, the inferior level can obtain the residual income.

2. Priority partners are generally risk-averse, and their demands are only capital preservation, and the requirements for income are not high; Poor partners expect to be "small and wide" and take on greater investment risks.

Second, the distribution of rights, responsibilities and benefits between GP and LP.

1.GP (general partner, i.e. fund manager) initiated private equity fund to raise funds from LP (limited partner, i.e. investor). GP is held by a natural person (in the United States, GP is generally a natural person, and in China, it is a limited liability company in most cases), and its contribution is very low, generally accounting for 65,438+0%, but it bears unlimited joint and several liability; LP's capital contribution is limited to its capital contribution and bears limited liability.

2. The income of private equity funds is divided as follows: the income is within 10% (generally 8%), and LP takes it all; For the excess, GP and LP were divided into 28 parts. This ratio will be fine-tuned for different funds.