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Names the statute the fund is formed underRead all 8 sources →
How long the fund is meant to lastRead all 7 sources and term frequencies →
Investors take no part in running the fundRead all 7 sources →
A separate capital account for each investorRead all 8 sources →
Investors cannot be required to put in more money
The manager's own money in the fund
Gains and losses are split at set points in timeRead all 7 sources →
Tax allocations follow the partnership tax rulesRead all 7 sources →
IPO profits are split differently for restricted investors
Hard-to-sell holdings put in a separate bucket
A management fee is chargedRead all 7 sources →
How often the management fee is chargedRead all 6 sources and term frequencies →
The manager may cut its own fee for particular investors
Management fee rateRead all 3 sources and term frequencies →
The manager takes a share of profitsRead all 6 sources →
Manager's profit share, as a percentageRead all 6 sources and term frequencies →
Past losses must be earned back firstRead all 6 sources →
Profit share is taken as a reallocation, not a feeRead all 4 sources and term frequencies →
When the manager's profit share is locked inRead all 4 sources and term frequencies →
A minimum return before the manager shares in profits
The manager can pay a withdrawal in securitiesRead all 6 sources →
The manager can force an investor outRead all 6 sources →
How long money is locked up at the startRead all 3 sources and term frequencies →
How often investors can withdrawRead all 3 sources and term frequencies →
How much notice a withdrawal takesRead all 3 sources and term frequencies →
Part of the payout is held back until the audit
A cap on how much can leave in one periodRead all 2 sources and term frequencies →
The manager can suspend withdrawals
A charge for leaving early
The fund pays the manager's legal billsRead all 8 sources →
The manager may run other funds and trade for itselfRead all 8 sources →
The manager alone runs the fundRead all 7 sources →
What the manager has to do wrong before it is liableRead all 6 sources and term frequencies →
Investors cannot sell their interest without permissionRead all 6 sources →
When new investors can joinRead all 6 sources →
The fund pays its own operating costsRead all 8 sources →
The manager pays its own overhead
A ceiling on what the fund can be charged
Tax information for investors each yearRead all 8 sources →
The manager decides what the holdings are worthRead all 8 sources →
Audited accounts every yearRead all 6 sources →
Whose agreement it takes to change the dealRead all 7 sources and term frequencies →
The manager can amend the agreement on its ownRead all 6 sources →
What causes the fund to wind up
Who gets paid first on a wind-up
Which law governsRead all 8 sources and term frequencies →
Investors sign a power of attorney to the managerRead all 7 sources →
Fund information is confidential, and some of it can be withheldRead all 6 sources →
Investors promise they are eligible to invest
Disputes go to arbitration
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CC BY 4.0. Cite as OpenAgreements contributors, Fund Partnership Agreements: underlying sources, OpenAgreements (last updated September 1, 2026), https://openagreements.org/surveys/limited-partnership-agreement/forms/data. Source excerpts and linked materials belong to their owners.
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