After months of searching, the Institutional Limited Partners Association (ILPA) has tapped Peter Freire as its new chief executive officer, effective June 8. Freire succeeds Kathy Jeramaz-Larson, who has served as executive director of the LP trade association for the past eight years.
Russell Reynolds Associates conducted the search for a successor to Jeramaz-Larson, who announced she was leaving the organization last December. Former head of the Emerging Markets Private Equity Association (EMPEA) Sarah Alexander was considered for the position first, as previously reported on pfm , but turned down the offer, according to a source close to the hiring process.
Freire joins ILPA following an 18-year career at CEB (formerly the Corporate Executive Board), and more recently with the World Economic Forum and as an advisor and consultant to private companies. At CEB, Peter managed strategic business lines and was responsible for CEB's global portfolio of HR businesses, principally the Corporate Leadership Council. He was also responsible for CEB's businesses in a number of regions outside of North America, including Asia-Pacific.
“Peter brings a wealth of experience in building and managing successful global businesses and teams,” said ILPA chairman and managing director with MetLife Investments Michael Mazzola. “He has proven expertise in areas clearly identified as essential for the continued growth of the ILPA.”
Under Jeramaz-Larson's leadership, ILPA released the Private Equity Principles, which are used by LPs to guide the negotiation of favorable fund terms in the limited partnership agreement. During her tenure ILPA has also played a major role in facilitating LP relations with the US Securities and Exchange Commission.
“[Jeramaz-Larson] leaves a tremendous legacy at ILPA having grown the organization from a small group of limited partners to a leading global private equity association with more than 318 members,” said Mazzola during remarks at the annual ILPA conference this week. “The ILPA has emerged as an influential organization guiding industry best practices, education and training, research and benchmarking.”