The Institutional Limited Partners Association announced that it has picked Jennifer Choi to serve as its acting CEO after parting ways with Steve Nelson this week. Nelson had been the group’s CEO since 2018.
Asked when ILPA expects to name a permanent CEO, spokesperson Megan Goodman told Private Funds CFO that the board has started its process, adding that “we will be sharing further details in due course as things progress in the coming months.”
ILPA did not give a reason for Nelson’s departure. When asked, Goodman said the departure “reflects ongoing, thoughtful conversations about the organization’s evolving leadership.”
Choi is the trade association’s managing director of industry affairs and will be tasked with day-to-day management in her interim role. The group said that she will remain in the acting position until its board chooses a new permanent CEO.
The organization, pointing to Choi’s experience, said that she “will leverage a deep understanding of ILPA’s members and the opportunities facing the industry globally to build on the milestones achieved by the organization under Nelson’s leadership.”
ILPA advances the interests of 500 member institutions representing more than $2 trillion in private equity assets under management, according to its website.
Nelson did not respond to a request for comment.