Joshua and Regan Bowers join Addison Barnes to form a private equity limited partnership, Kestrel Investment Partners LP. They plan to sell to wealthy investors limited partnership interests totaling $42 billion, investing the funds in small businesses that need capital infusion and management assistance to become highly successful businesses. Joshua, Regan, and Addison also form an LLC, Kestrel Management LLC, as the sole general partner of Kestrel Investment Partners LP. Each of the three own one-third of the LLC and hold equal management power as managing members of the LLC. In effect, through the LLC, the three control the management of the limited partnership. Are the three, therefore, general partners of the limited partnership? Do they have unlimited liability for the limited partnership’s obligations?