General partner
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1. Private equity.
(GP).
The partner in a private equity limited partnership with legal and managerial responsibility for operating the partnership.
The general partner is normally the private equity fund manager, often responsible for several different funds which may have varying mandates or investment periods.
General partners may be management entities, or individuals.
Contrasted with limited partners.
2. Partnership.
More broadly, any partner having unlimited (general) liability in a partnership.
Unlike limited partners.
