Steve Becker, President of the General Partner
, will discuss the first quarter financial results and provide an update on the Partnership's business, followed by a question and answer session for the investment community and media.
As the general partner
, B neither contributes capital into the partnership nor receives a distribution.
The partnership agreement will also provide the general partner
with a carried interest.
Since a general partner
in a limited partnership has such a unique role and set of personal responsibilities, his participation in the organization and running of the business is critical.
"In the case of a family ranch, for example, the senior generation could place that real estate in an FLP in which partners waive the right to transfer interest outside the family, cede day-to-day control to the general partners
, and are bound to arbitration in the case of conflict," explains Lee Garsson, a senior vice president at Bank of America.
Peter Wendell, a general partner
at Sierra Ventures, said the market for liquidating venture-backed investments is only slowly returning to normal.
MPM General Partners
Drs., Michael Steinmetz and Dennis Henner have joined BioXell's Board of Directors.
In a limited partnership, only the general partner
does not have limited liability.
This is where a general partner
teams with a partner with limited interest in the management of the business.
The prior regulations had provided that the retirement, death, or insanity of a general partner
caused a dissolution of a limited partnership unless the remaining general partners
or all remaining members agreed to continue the partnership.
The regulations recognize continuity of life to be lacking in a limited partnership also even if the partnership dissolves upon the retirement, death, insanity, or bankruptcy of the general partner
In reviewing the soundness of an investment opportunity in a real estate limited partnership, the investor should be concerned with who the general partner
is, the fundamental economics of the deal, and the fees being paid.