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Glossary Term: GENERAL PARTNER (GP)

Definition(s) for GENERAL PARTNER (GP):


1. ) refers to a class of partner in a partnership. The term is also used as a title for top-ranking partners at a private equity firm. The general partner retains liability for the actions of the partnership. In the private equity world, the GP is the fund manager while the limited partners (LPs) are the institutional and high net worth investors in the partnership. The GP earns a management fee and a percentage of profits.



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