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The industry organization is circulating a draft proposal recommending a host of disclosures on GPs’ use of subscription credit lines, with an eye to helping LPs manage exposure to the lines, allocation to PE and overall liquidity.
ILPA outlines how LPs can estimate their subscription credit line liability in a draft set of recommendations on disclosures reviewed by Private Funds CFO.
The exclusion of PE-backed businesses from the CARES Act is ‘disappointing’, but the industry hasn’t given up yet.
When an IRR has been inflated by subscription lines of credit, does the fund manager need to present a second figure to investors?
Reporting data
ILPA’s Jennifer Choi discusses what GPs should be doing with their ESG data.
In this extract from a note to clients, Michael Sabin, a private funds lawyer in Clifford Chance's New York office, talks through 14 of the more LP-friendly terms in the model agreement.
MJ Hudson's Eamon Devlin and ILPA senior policy counsel Chris Hayes discuss the new model agreement.
Model LPA Car or contract
ILPA’s bid to shed more light on fund terms won’t be adopted overnight.
ILPA senior policy counsel Chris Hayes discusses the organization's new model limited partnership agreement, including how it seeks to restore fiduciary duty to the LP-GP relationship.
The LP-friendly limited partnership agreement is intended to cut down the need for negotiation and side letters when establishing a private equity fund.
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