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Private capital sponsors are increasingly using independent general partners ("GPs") in their fund structuring for a variety of reasons, including regulatory or commercial considerations.
Typically, a partnership structure is utilised for these funds, with the partnership formed in the Cayman Islands, Delaware or other jurisdiction which can offer a suitable partnership regime. Such funds will seek to ensure that the GP entity is independent from any investment manager by having the holder of the controlling share or the member interest of the general partner be completely independent of the investment manager.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
