ILPA Seeking Input On Proposed Private Equity Fee Reporting Template

The Institutional Limited Partners Association ("ILPA"), a global organization representing private equity fund limited partners ("LPs"), released a draft template setting forth recommended reporting practices with respect to the disclosure by private equity fund managers ("GPs") of the fees and expenses borne by the private equity funds managed by the GPs. The proposal is the first product of ILPA's Fee Transparency Initiative, a broad-based effort involving senior investment and reporting professionals from a cross section of investor institutions and advisers that seeks to establish stronger and more consistent standards for fee and expense reporting and compliance disclosures among investors, fund managers and their advisers.