Private limited partnership

Private limited partnership

A limited partnership with no more than 35 participants that is not registered with the SEC.

Private Limited Partnership

A limited partnership with no more than 35 general partners and limited partners. Investments in a private limited partnership is considered to be sufficiently illiquid that the venture is not required to register with the SEC. See also: Publicly-Traded Partnership.
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Tallgrass Development, LP, a private limited partnership organized in Delaware, currently owns a 50% membership interest in and operates the Rockies Express Pipeline, an approximately 1,712 mile natural gas pipeline which enables producers in the Rocky Mountain and Appalachian Basin production regions to deliver gas to the Midwest and eastern parts of the country.
Members of a private limited partnership often contribute considerable senior-level experience - either in the same industry or lessons learned from developing and implementing a similar acquisition or growth strategy in another field - to the management of a company in which they invest.
Besides the mutual funds that are accessible to individual investors on the open market, Morningstar points out that the Africa Growth Fund has been investing in South Africa since 1987 as a private limited partnership.