The Institutional Limited Partners Association has released the second phase of its transparent reporting template for private equity firms.
It focuses on developing best practice in reporting data to LPs and compliance with Limited Partner Agreements.
The first phase, which provided private equity firms with a standard reporting process for fees, expenses and carried interest, launched in January 2016.
The ILPA Template is already used by Oaktree Capital Management, Permira, Searchlight Capital Partners and Riverstone.
A report from February this year showed that the template’s take up had slowed, with only nine GPs adopting it – as opposed to 58 LPs. The data was compiled on behalf of the California Public Employees’ Retirement System, a backer of the ILPA template initiative.