
5 GP Responsibilities in Search Funds
General Partners (GPs) in search funds carry five core responsibilities: raising capital, sourcing acquisition targets, conducting due diligence, structuring deals, and ultimately stepping in to run the acquired business. Unlike traditional private equity, search fund GPs take a hands-on operator role, making decisions that directly shape growth, culture, and long-term value creation. Their ability to execute across these stages determines both investor returns and the success of the business they acquire.












