The recent recommendations outlined by the Institutional Limited Partners Association, which called for a greater alignment of interests between GPs and LPs and higher levels of transparency and partnership governance, received a major endorsement this week from the California Employees’ Retirement System (CalPERS). But although ILPA scored a seal of approval from the largest pension in the US, not everyone in the industry is as enthusiastic about ILPA's “Private Equity Principles”.
ILPA guidelines: the industry responds
Private Equity Manager sought out feedback from several different private equity players with regard to 'Private Equity Principles' just released by the Institutional Limited Partners Association. The LP-friendly suggested partnership terms are seen by some non-LPs as less than perfect.
