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Multiple limited partnerships
Asked by david arbital

Can I establish two LLPs in order to have a Fund of Funds as well as a traditional long/short fund? Reason being I would like to be able to have two minimum investments, this allows marketing efforts to investors committing $1,000,000 plus not be be overlapping those investing $25,000. I would simultaneously be able to attract both wealthy and extremely wealthy investors, and at the same time increasing diversification as far as the LLC is concerned.

Answer By Nicholas Roman

Yes, but usually a General Partnership must be created first to shelter the LLP's. Each state and country has it's own set of laws which may differ, so research accordingly.