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Investment Banks, Hedge Funds, and Private Equity by David Stowell

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19

Organization, Compensation, Regulation, and Limited Partners

Organizational Structure

A private equity fund is usually structured as a limited partnership that is owned jointly by a private equity firm (General Partner) and other investors, such as pension funds, insurance companies, high-net-worth individuals, family offices, endowments, foundations, fund of funds, and sovereign wealth funds (all of which are Limited Partners). The General Partner manages and controls the private equity fund (see Exhibit 19.1).

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Exhibit 19.1

Private equity investments are often channeled through a new company (NewCo) that receives equity investments from a ...

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