Perhaps GP believes he does not have the skills to identify market inefficiencies, or believes he does not have the skills to identify fund managers who have th

Perhaps GP believes he does not have the skills to identify market inefficiencies, or believes he does not have the skills to identify fund managers who have the skills to identify market inefficiencies. Those would seem to rule out picking securities himself or choosing an actively-managed fund. Or maybe he just believes the market might stay irrational longer than he can stay solvent.