Document background
The Limited Partners Agreement is a foundational document used in Australian investment structures to establish and govern limited partnerships, particularly in private equity, venture capital, and investment fund contexts. This agreement is essential when forming an investment vehicle where certain partners (Limited Partners) contribute capital while others (General Partners) manage the partnership's operations. The document comprehensively addresses partnership formation, capital commitments, management rights, profit distribution, transfer restrictions, and termination provisions. It must comply with relevant Australian state-based partnership legislation, federal tax laws, and regulatory requirements, including ASIC guidelines. The agreement is particularly crucial for protecting Limited Partners' interests while defining General Partners' management authority and responsibilities.
