Can I manage a partnership without personally holding a partnership interest?

Short answer: yes,but the details matter. You can be a manager or agent without being a partner, but you need a clear operating agreement and proper authority. If you are not a partner, your management role is contractual, not ownership-based.

I looked into something similar a while back. One option is to have an entity, like an LLC, hold the partnership interest, and you manage that LLC. That way your name might still appear somewhere, but not directly as a partner in the partnership.

If you are not a partner, you are essentially a hired manager. That can work, but you need to be careful about liability and decision-making limits. The partnership agreement should spell out what you can and cannot do.

What jurisdiction are you in? Partnership laws vary a lot. In some places, a manager can be a non-partner, but in others the concept is less clear. Also, privacy for partnerships is generally weaker than for LLCs in many US states.

I am not a lawyr, but I have seen structures where a management company is contracted to run the partnership. The manager has no ownership, just a service agreement. That might be what you are after, but it adds complexity and cost.

Agreed with silentgrove. Also consider that if you are not a partner, you may have less protection if the partners decide to remove you. You would be relying on the contract, not on partner rights.

Why not just use an LLC taxed as a partnership?Then you can be a member of the LLC, and the LLC is the partnership. Your name might still be on the LLC filings, though. Privacy is never absolute.

That is true. If the goal is to keep your name off public records, you need to look at what is actually public. In many states, partnership filings are not as public as LLC filings, but registered agent and annual reports can still expose information.

I think the OP might be overcomplicating it. If you just want privacy, a holding company or trust might be simpler than trying to manage without an interest. But if yoou need control without ownership, a management agreement is the way.

One risk: if you are not a partner but act like one, a court might treat you as a partner by estoppel. That could expose you to liability. So you need to be consistent about your role and title.

Also, tax implications. If you are not a partner, you are not allocated partnership income. You would be paid as a contractor or employee. That changes the tax treatment significantly

Has anyone actually done this? I would be interested in hearing real experiences. It sounds good in theory but might be hard to open bank accounts or sign contracts without being a partner.

Banks often want to see the operating agreement and may require the manager to be authorized. If you are not a partner, you will need a resolution or delegation of authority. It can be done, but expect more paperwork.

I would also check whether the partnership agreement allows a non-partner manager. Some do, some do not. If it is a new partnership, you can draft it that way from the start.

And remember, if you are not a partner, you have no say in profit distributions beyond what the contract says. That is a big trade-off for control.