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ARTICLE · 01 DECEMBER 2025

ILPA Updates Capital Call & Distribution Template: Implications For GPs And LPs

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The Institutional Limited Partners Association (ILPA) has released an updated Capital Call & Distribution Template (CC&D Template) to standardise the accounting details embedded in call and distribution notices and to align the template with the updated ILPA Reporting Template and the new ILPA Performance Template.

United StatesFinance and Banking
Thomas Laurer
Thomas Laurer
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Edward A. Tran
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Ryan Hansen
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Phillip Koh
Elise W. Michael
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The Institutional Limited Partners Association (ILPA) has released an updated Capital Call & Distribution Template (CC&D Template) to standardise the accounting details embedded in call and distribution notices and to align the template with the updated ILPA Reporting Template and the new ILPA Performance Template. The updated template is intended to supplement existing General Partner (GP) call and distribution notices. ILPA undertook a broad, industry‑wide process, including a nine‑week public comment period with nearly 50 responses, to finalise the design.

This article summarises what has changed in ILPA's updated CC&D Template and why those changes matter for fund operations and performance reporting, who is affected and when, and practical implementation considerations for GPs, Limited Partners (LPs) and their legal teams.

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