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The Changing Model Of Limited Partners

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By Gregory DL Morris, Special To Hart Energy
June 1, 2014

Just as private-equity (PE) management firms range in size and sophistication, so do the endowments, pension funds and other institutional investors that put their capital to work through the PE firms. The traditional model of a limited partner (LP) writing a check to a general partner (GP) firm and the GP then handling management and direct commitments to operating companies is changing. Increasingly, LPs are stepping up to be co-investors and in a few cases, even co-leads.

Stanford University has an endowment of $23 billion, administered by Stanford Management Co. ...

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