The Institutional Limited Partners Association («
ILPA ») is a global organization dedicated
to advancing the interests and maximizing the performance of
limited partners (« LPs ») in the
context of private equity funds. The ILPA constitutes a forum for
LPs and general partners (« GPs ») to
engage in constructive dialog with respect to alignment of
interests, governance, transparency and industry's best
practices.
In 2009, the ILPA published the ILPA principles which are
regarded by market participants as the gold standard in respect of
the terms, practices and overall management of private equity
vehicles. Those principles were recently updated by the ILPA,
expanding and clarifying existing industry themes and addressing
emerging practices and concerns in the market. Here is a list of
key topics addressed in ILPA Principles 3.0 which we believe should
be of particular interest for GPs and LPs. For more information
about the ILPA Principles 3.0 please read the
