An LP asked me: do non-U.S. citizens need to pay estate tax if they invest in a Delaware fund as an LP?

Non-U.S. citizens generally do not need to pay U.S. taxes on capital gains from a Delaware fund as an LP, as capital gains are not sourced to the U.S. and are not taxed there. However, they may need to pay taxes in their home country. Always recommend that LPs consult with a tax professional for specific advice and avoid providing LPs with tax advice.