The Institutional Limited Partners Association (ILPA) has hired Mike Elio, managing director at LP Capital Advisors, to research and monitor regulatory changes that could affect the trade group’s membership and the private equity industry in general.
Elio, who joined consultant LP Capital Advisors in 2006, has had a relationship with ILPA, having helped the group craft standardised reporting guidelines meant to make life easier for LPs and general partners by simplifying the processes of capital call, distribution and quarterly reporting.
Elio will leave LP Capital Advisors in July and start at ILPA 1 August, according to a person with knowledge of the hiring. ILPA was not available for comment as of press time. Elio did not return a request for comment Thursday.
“There’s a lot of current global regulation and things that need to be watched,” the person said.
Prior to joining LP Capital Advisors, Elio worked for three years at State Street Corporation providing investment consulting services to institutional investors in private equity, according to the firm’s web site. Before that, he worked for two years at Credit Suisse First Boston Private Equity managing the investor relations team.
ILPA boasts more than 260 institutional investors as members, which equates for more than 1,200 professionals, though the group itself has a staff of 10.