Limited partners may be institutions or individuals. Once invested in the fund, they have no input on investment selections or decisions. When the firm collects funds for the investments, limited investors may not know exactly what they are about to invest in. What they must do is commit assets for a specific amount of time, usually a period of years. So if a limited partner is unsatisfied with the investment selections or fund performance, they have limited recourse until they’ve fulfilled the time commitment.
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