|
In September 2009, the Institutional Limited Partners Association (ILPA), an association existing since the early 1990s which represents more than 200 institutional private equity investors with $1 trillion in private equity assets under management, released a report on Private Equity Principles .
The ILPA report described what it considered to be terms addressing the alignment of interests of private equity funds' principals and investors, governance standards and transparency. After careful consideration of these terms, one can describe them as rather LP-friendly, which can reasonably make us doubt that such principles will be agreed as such without any tweaks and complied with by the majority of the GPs. So far, these guidelines have been endorsed by only a handful of...
|