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Podcast: Syndication Law & The Private Placement Memorandum Attorney
Episode: LLCs vs. LPs in Syndication and Equity Funds: Navigating the Choices
Description: If you're considering becoming a sponsor for a syndication or equity fund, you'll want to understand the differences between using a Limited Liability Company (LLC) or a Limited Partnership (LP) as your entity structure. Two decades ago, LPs were the norm, but today, most sponsors opt for LLCs. There are three main distinctions to consider: taxation, management, and liability protection. With an LLC, taxes are passed straight through to partners, while an LP treats general and limited partners differently. LLCs offer more management flexibility and clear liability protection for the general partner, whereas an LP's general partner has full...