Home ILPA

ILPA

Almost two-thirds of LPs are concerned about exceeding their policy target to private equity, according to a survey from the ILPA.
CFOs say they welcome ILPA’s call for more disclosure on subscription credit line usage, but some still argue producing two different IRRs will only further complicate reporting.
CFOs speaking to Private Funds CFO are keen to be able to keep subscription credit lines drawn until their funds hold a final close to avoid what they say are messy LP rebalancing issues.
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.
pfcfo
pfcfo

Copyright PEI Media

Not for publication, email or dissemination