Document background
The Limited Partnership Agreement Private Equity is a foundational document used when establishing a private equity fund structure in Ireland. It serves as the primary governing document that defines the legal and economic relationship between the General Partner, who manages the fund, and the Limited Partners, who provide investment capital. This agreement is particularly crucial in the Irish context, where it must comply with both domestic legislation (including the Limited Partnerships Act 1907 and Investment Limited Partnerships Act 1994) and relevant EU regulations. The document typically includes detailed provisions on capital commitments, investment strategy, management fees, carried interest, distribution waterfall, transfer restrictions, and regulatory compliance. It's designed to protect all parties' interests while providing the flexibility needed for effective private equity investment operations.
