general partner
[/ˈdʒɛnərəl ˈpɑːrtnər/]
nounpl: general partners
sócio comanditado / sócio solidário
1. A partner in a partnership who has unlimited personal liability for the debts and obligations of the partnership and participates in its management
As a general partner, she is personally liable for all business debts.
Como sócia comanditada, ela é pessoalmente responsável por todas as dívidas da empresa.
2. In a limited partnership, the partner(s) who manage the business operations and bear full legal responsibility
The general partner makes all decisions for the limited partnership.
O sócio comanditado toma todas as decisões da sociedade em comandita.
3. In private equity or venture capital funds, the managing partner who invests capital and receives management fees plus carried interest
The general partner of the venture fund earned significant carried interest from the successful exits.
O sócio gestor do fundo de capital de risco ganhou uma participação substancial nos lucros das saídas bem-sucedidas.
The term reflects legal structures common in both Brazilian and American business environments. In Brazil, the distinction between 'sócio comanditado' (in limited partnerships) and 'sócio solidário' (in general partnerships) is legally significant. In the US and Brazil, general partners in venture capital and private equity funds are prestigious positions requiring substantial capital commitment and earning potential through carried interest (participação nos lucros).
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