Which of the following best describes a limited partner?

A limited partner is primarily an investor who provides capital to a partnership, such as a private equity fund, without engaging in the day-to-day management or operational decisions of that partnership. This arrangement allows limited partners to benefit from potential profits while minimizing their active involvement and liability.

Limited partners typically have restricted control over investment decisions, which distinguishes them from general partners who manage the investment and assume greater risk. This structure is particularly appealing for individuals or institutions seeking to invest in funds without the burden of managing the investments themselves. By providing capital without a role in decision-making, limited partners enable the general partners to focus on maximizing the fund's performance.

In contrast, other descriptions do not accurately represent the role of limited partners. While they may have some influence through voting on key issues, it is not significant compared to general partners. Limited partners are also not liable for the firm's debts beyond their invested capital, which aligns more with option C but does not encapsulate their role as investors. Additionally, limited partners do not manage daily operations, which distinguishes them from general partners and contradicts the description in option D.