GP vs LP Terminology Help
I’m updating my resume and trying to differentiate between our GP/owner-operated vs. LP/passive investment portfolios, but I’m not sure how to phrase it or what the correct terminology is. Can anyone help with this?
I don’t have the exact wording with me right now, but below are a couple examples of how I intend to use the terminology. Feel free to move things around and reword if that’ll help.
1. Led strategy and execution of a $XX [GP/owner operator/direct ownership] portfolio and supported portfolio management efforts of a $XX [LP/Passive] portfolio.
2. Firm has a $XX portfolio in [GP/owner operator/direct ownership] and $XX in [LP/Passive] investments.
For some context, I work for a family office where we sponsor/directly own & operate all our office & retail investments, and make LP investment in other product types through funds/JV/etc.
Thank you! Appreciate any help
To differentiate between GP/owner-operated and LP/passive investment portfolios on your resume, here’s how you can phrase it effectively:
Led strategy and execution of a $XX direct ownership (GP/owner-operator) portfolio, while supporting portfolio management efforts for a $XX passive investment (LP) portfolio.
Firm manages a $XX portfolio in direct ownership (GP/owner-operator) investments and $XX in passive (LP) investments through funds, joint ventures, and other vehicles.
This phrasing clearly distinguishes the active, hands-on role in GP investments from the more passive, capital allocation role in LP investments. It also aligns with the terminology commonly used in the industry, as highlighted in WSO discussions.
Sources: A controversial “portfolio theory” of career planning, GP vs LP - Which is better, Unique LP/GP Setup - Governance Mechanics, Economics, Other Fun Considerations
For direct ownership (i.e. 100% ownership of an asset), you can use "Wholly owned", and for ownership interests it could be whatever your interest is.
So it could be:
"Assisted in the implementation of XYZ for XYZ million in wholly owned (insert asset class) assets"
"Led portfolio management for XYZ million in pref/mezz/senior/JV equity/etc in (insert deal/asset class)"
Thank you!
Would “wholly owned” imply that we (the GP/sponsor) don’t have any LPs on those deals? Bc we have third party investors for most of the deals we GP.
Sorry, I didn’t clarify that in my initial post. I just want to make sure I’m understanding it correctly so that I don’t accidentally misrepresent something on my resume.
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