GPs giveth, and LPs taketh away
Date: December 9, 2011
From where limited partners sit, private equity partnerships have been nothing but less than equal. Historically, general partners have tended to call the shots and dictated terms, while LPs whose money the GPs manage, have, to their ever-wearying dismay, gone with the flow. Nine pension funds groused in a 1996 study that terms and conditions for private equity partnerships hadn’t changed much in 20 years despite the growth in maturity and size of the industry.
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Source: The Deal
