Limited partnership

A partnership registered in accordance with the Limited Partnerships Act 1907. An English limited partnership must be formed between two or more persons and must carry on a business in common with a view of profit. Unlike a general partnership, a limited partnership has two categories of partner: one or more general partners who manage the business of the partnership and one or more limited partners who do not participate in the management of the partnership and who have limited liability.

For further details, see Practice notes, Limited partnerships under the Limited Partnerships Act 1907 and Private fund limited partnerships (PFLPs).