Entrepreneurs' Relief - private equity limited partner

[Brightonian]

I have been asked if Entrepreneurs' Relief is available to a limited partner in a private equity fund based offshore - he is UK resident and domiciled. From what I've been able to find out, a limited partner is just another name for an investor. He will receive a distribution of which 30% is return of capital and 70% is capital gain. The amounts are relatively small.
Does anyone know if it is possible for a limited partner in such an arrangement to obtain ER?

[maths]

Generally (but not always), offshore limited partnership structures are viewed as transparent by HMRC.

ER is unlikely as re any underlying investments (presumably shares) the investor will not be an employee thereof nor own 5%.

[Brightonian]

Thank you, Maths. I suspected that would be the case.