S\u0131n\u0131rl\u0131 Ortak (Limited Partner, LP), bir yat\u0131r\u0131m fonuna (VC, PE veya hedge fund) sermaye sa\u011flayan ancak g\u00fcnl\u00fck y\u00f6netime kat\u0131lmayan yat\u0131r\u0131mc\u0131d\u0131r. Yat\u0131r\u0131mlar\u0131 sermayeleriyle s\u0131n\u0131rl\u0131d\u0131r ve hukuki sorumlulu\u011fu yat\u0131r\u0131m miktar\u0131yla s\u0131n\u0131rland\u0131r\u0131lm\u0131\u015ft\u0131r.<\/p>\n
LP’ler, fonun aktif y\u00f6netiminden sorumlu olan General Partner’lara (GP) sermaye yat\u0131r\u0131r. LP’ler tipik olarak: Pension fund’lar (CalPERS, CPPIB gibi), Endowment’lar (Yale, Harvard \u00fcniversite fonlar\u0131), Sovereign wealth fund’lar (Norway, Singapore GIC), Family office’ler, Y\u00fcksek varl\u0131kl\u0131 bireyler, \u015eirketler, Insurance \u015firketleri, Foundation’lar. LP’ler hem pasif yat\u0131r\u0131mc\u0131lard\u0131r hem de fon y\u00f6netiminden k\u00e2r payla\u015fmak i\u00e7in sermaye sa\u011flarlar.<\/p>\n
LP-GP ili\u015fkisi \u015fu yap\u0131da i\u015fler: Fund Documents \u2014 LP’ler Limited Partnership Agreement (LPA) imzalar, Capital Commitments \u2014 LP’ler belirli bir miktar taahh\u00fct eder (\u00f6rne\u011fin 50 milyon dolar), Capital Calls \u2014 GP gerekti\u011finde sermayeyi \u00e7a\u011f\u0131r\u0131r (yat\u0131r\u0131mc\u0131lar nakit g\u00f6nderir), Distributions \u2014 ba\u015far\u0131l\u0131 \u00e7\u0131k\u0131\u015flardan elde edilen getiri LP’lere da\u011f\u0131t\u0131l\u0131r, Management Fee \u2014 GP’ye y\u0131ll\u0131k %1-2 y\u00f6netim \u00fccreti, ve Carried Interest \u2014 k\u00e2r \u00fczerinden GP’ye %20 pay.<\/p>\n
LP’ler VC ve PE end\u00fcstrisinin temelini olu\u015fturur: Fonlar\u0131n sermayesinin %95+’\u0131n\u0131 sa\u011flarlar, Uzun vadeli yat\u0131r\u0131m perspektifi getirirler (10+ y\u0131l horizonlar\u0131), Fon performans\u0131n\u0131 disiplinli izlerler, ve Strategic guidance verebilirler (\u00f6zellikle limited partner advisory committee – LPAC \u00fcyeleri). LP’ler aras\u0131ndaki rekabet \u2014 \u00f6zellikle top-tier VC fonlar\u0131 i\u00e7in \u2014 sekt\u00f6rde \u00f6nemli bir dinamiktir.<\/p>\n
LP’ler fon se\u00e7erken kapsaml\u0131 due diligence yaparlar: GP track record analizi, Investment thesis ve stratejisi de\u011ferlendirmesi, Team stability ve de\u011ferlemesi, Past fund performance (IRR, TVPI, DPI), Reference calls (\u00f6nceki LPlerle), Operational due diligence, Legal terms (LPA h\u00fck\u00fcmleri). Bu s\u00fcre\u00e7 3-9 ay s\u00fcrebilir. Modern LP’ler ESG kriterlerine de giderek daha fazla \u00f6nem veriyor.<\/p>\n","protected":false},"excerpt":{"rendered":"
TLDR: S\u0131n\u0131rl\u0131 Ortak (Limited Partner, LP), bir yat\u0131r\u0131m fonuna (VC, PE veya hedge fund) sermaye sa\u011flayan ancak g\u00fcnl\u00fck y\u00f6netime kat\u0131lmayan yat\u0131r\u0131mc\u0131d\u0131r. Yat\u0131r\u0131mlar\u0131 sermayeleriyle s\u0131n\u0131rl\u0131d\u0131r ve hukuki sorumlulu\u011fu yat\u0131r\u0131m miktar\u0131yla s\u0131n\u0131rland\u0131r\u0131lm\u0131\u015ft\u0131r. Limited Partner Nedir? LP’ler, fonun aktif y\u00f6netiminden sorumlu olan General Partner’lara (GP) sermaye yat\u0131r\u0131r. LP’ler tipik olarak: Pension fund’lar (CalPERS, CPPIB gibi), Endowment’lar (Yale, Harvard […]<\/p>\n","protected":false},"author":4,"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"categories":[],"class_list":["post-7922","term","type-term","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/7922","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term"}],"about":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/types\/term"}],"author":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/comments?post=7922"}],"version-history":[{"count":4,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/7922\/revisions"}],"predecessor-version":[{"id":9656,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/7922\/revisions\/9656"}],"wp:attachment":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/media?parent=7922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/categories?post=7922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}