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Investment Banks, Hedge Funds, and Private Equity, 2nd Edition 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, funds of funds, and sovereign wealth funds (all of which are Limited Partners). The General Partner manages and controls the private equity fund (see Figure 19.1).

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Figure 19.1 Ownership of a private equity fund.

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

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