Limited partner
From ACT Wiki
1. Private equity.
(LP).
A partner in a private equity limited partnership that invests in a fund, but that does not have day-to-day responsibility for managing the partnership.
Limited partners' maximum losses are generally the amount of their capital contribution only.
Contrasted with general partners.
2. Partnership.
More broadly, any partner having limited liability in a partnership, the limit generally being the amount of their investment.
Unlike general partners.
