As the U.S. economy rebounds and investment activity intensifies, Cayman exempted limited partnerships (ELPs) remain an attractive vehicle through which California-based funds and other investment groups continue to acquire assets. Not only are investors afforded certain protections with respect to their limited liability as limited partners, but distributions may also be made in a tax-efficient manner.
Despite the benefits, however, investment managers and prospective lenders to ELPs must be aware of the unique characteristics of these structures, particularly when considering security arrangements.
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