Chicago Illinois Limited Partnership Agreement for Hedge Fund

• Category: Partnerships - Contracts
• State: Multi-State
• City: Chicago
• Control #: US-PE-NAM
• Format: Word; Rich Text

Description

This is a sample private equity company form, a Limited Partnership Agreement for Hedge Fund. Available in Word format. Chicago Illinois Limited Partnership Agreement for Hedge Fund is a legally binding contract that outlines the terms and conditions under which a hedge fund operates in the state of Illinois. This agreement establishes the relationship between the general partner and limited partner(s) in the hedge fund. The partnership agreement is governed by the Illinois Revised Uniform Limited Partnership Act. The Chicago Illinois Limited Partnership Agreement for Hedge Fund typically includes crucial details such as the fund's investment objectives, partnership duration, capital contributions, profit and loss distribution, management responsibilities, and procedures for adding or withdrawing partners. It sets forth the rights, obligations, and restrictions of both the general partner and limited partner(s). There are different types of Chicago Illinois Limited Partnership Agreements for Hedge Funds: 1. Standard Limited Partnership Agreement: This is the most common type of partnership agreement for hedge funds. It establishes a general partner who has unlimited liability and management control, while limited partners have limited liability and cannot participate in the day-to-day operations of the fund. 2. Family Limited Partnership Agreement: This type of agreement is suitable for hedge funds that are primarily formed by family members. It allows for centralized management and control, while providing asset protection and tax benefits for family members. 3. Master-Feeder Limited Partnership Agreement: In this structure, a master fund is formed to pool investor capital, and separate feeder funds are created to accommodate investors with different needs or domiciles. The master fund invests in multiple feeder funds, which then invest directly in the market. 4. Side-by-Side Limited Partnership Agreement: This agreement is used when a hedge fund manager wants to offer both a domestic and an offshore version of the fund. The manager operates two parallel partnerships side-by-side, enabling investors to choose the most suitable investment vehicle based on their residency, tax circumstances, or other preferences. It is essential for all parties entering into a Chicago Illinois Limited Partnership Agreement for Hedge Fund to seek legal counsel to ensure compliance with state and federal laws governing hedge fund operations. The agreement serves as the foundation for the fund's operations and protects the interests of both partners, facilitating transparency, accountability, and a clear understanding of the rights and obligations of each party involved.

Chicago Illinois Limited Partnership Agreement for Hedge Fund is a legally binding contract that outlines the terms and conditions under which a hedge fund operates in the state of Illinois. This agreement establishes the relationship between the general partner and limited partner(s) in the hedge fund. The partnership agreement is governed by the Illinois Revised Uniform Limited Partnership Act. The Chicago Illinois Limited Partnership Agreement for Hedge Fund typically includes crucial details such as the fund's investment objectives, partnership duration, capital contributions, profit and loss distribution, management responsibilities, and procedures for adding or withdrawing partners. It sets forth the rights, obligations, and restrictions of both the general partner and limited partner(s). There are different types of Chicago Illinois Limited Partnership Agreements for Hedge Funds: 1. Standard Limited Partnership Agreement: This is the most common type of partnership agreement for hedge funds. It establishes a general partner who has unlimited liability and management control, while limited partners have limited liability and cannot participate in the day-to-day operations of the fund. 2. Family Limited Partnership Agreement: This type of agreement is suitable for hedge funds that are primarily formed by family members. It allows for centralized management and control, while providing asset protection and tax benefits for family members. 3. Master-Feeder Limited Partnership Agreement: In this structure, a master fund is formed to pool investor capital, and separate feeder funds are created to accommodate investors with different needs or domiciles. The master fund invests in multiple feeder funds, which then invest directly in the market. 4. Side-by-Side Limited Partnership Agreement: This agreement is used when a hedge fund manager wants to offer both a domestic and an offshore version of the fund. The manager operates two parallel partnerships side-by-side, enabling investors to choose the most suitable investment vehicle based on their residency, tax circumstances, or other preferences. It is essential for all parties entering into a Chicago Illinois Limited Partnership Agreement for Hedge Fund to seek legal counsel to ensure compliance with state and federal laws governing hedge fund operations. The agreement serves as the foundation for the fund's operations and protects the interests of both partners, facilitating transparency, accountability, and a clear understanding of the rights and obligations of each party involved.