None of this makes sense in a Master-Feeder model, as the master fund is a partnership between the feeder funds, one US, one offshore for foreign investors
The general partner is not an owner they are a manager. The general partner doesnt have to be a human either it can be another entity or multiple entities
all of this can be hotswapped
Even in a mini-master models or single US entity model, LPs are the owners, GP is just a managing member. “ownership” in the context of this article is ambiguous, but the SEC filings would add the clarity necessary for this discussion, probably “manager” or “controlling person”
The general partner is not an owner they are a manager. The general partner doesnt have to be a human either it can be another entity or multiple entities
all of this can be hotswapped
Even in a mini-master models or single US entity model, LPs are the owners, GP is just a managing member. “ownership” in the context of this article is ambiguous, but the SEC filings would add the clarity necessary for this discussion, probably “manager” or “controlling person”