The Institutional Limited Partners Association (ILPA) is a
trade association
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association partic ...
for
institutional
Institutions are humanly devised structures of rules and norms that shape and constrain individual behavior. All definitions of institutions generally entail that there is a level of persistence and continuity. Laws, rules, social conventions a ...
limited partners
A limited partnership (LP) is a form of partnership similar to a general partnership except that while a general partnership must have at least two general partners (GPs), a limited partnership must have at least one GP and at least one limited ...
in the
private equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...
asset class. It is headquartered in
Washington, D.C.
)
, image_skyline =
, image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...
and has an additional office in
Toronto, Ontario
Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...
.
ILPA was co-founded by Private Equity Hall-of-Famer, Thomas B. Judge, Sr. in the early 1990s.
Membership
Members of ILPA include public and corporate
pension funds,
endowments,
foundations,
insurance companies
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
, family offices, and sovereign wealth funds. According to ILPA, its membership totals more than 500 investors representing over $2 trillion in private equity investments.
The
limited partner investor universe in private equity has historically been highly fragmented and individual investors, even the largest investors, often have limited ability to negotiate the terms of the individual
private equity funds to which they commit.
ILPA Private Equity Principles
In September 2009, ILPA released a set of guidelines, the Private Equity Principles, intended to provide a common set of terms which institutional limited partners could use as the basis for negotiation with
fund managers.
Institutional Limited Partners Association (ILPA) releases the ILPA Private Equity Principles
Reuters, September 8, 2009
References
Private equity
{{private-equity-stub