Since the Institutional Limited Partners Association (ILPA) unveiled its much-anticipated fee-reporting template at the end of January, the trade body’s chief executive Peter Freire and managing director of industry affairs Jennifer Choi have been actively spreading the word of better reporting and greater fee transparency across a number of industry events.
ILPA’s efforts kicked off at Private Equity International’s CFOs and COOs Forum in New York on January, where Peter Freire declared the fee-reporting template an inevitable step for the industry, and that GPs need to support it.
Since then, Freire has advocated for use of the template at the International Private Equity Market conference in Cannes, then during a breakfast for ILPA members and nonmembers in Berlin and on a panel at SuperReturn International.
Choi recently spoke before the National Association of State Retirement Administrators and before the National Council on Teacher Retirement.
The appearances are part of a push from ILPA to engage with more LPs, GPs and service providers and discuss the implementation of the fee template.
“GPs are inclined to satisfy the requests of their clients who are requesting they use the template, but they are also facing the challenge of figuring out the precise operational burden to do this for all their investors,” noted Choi in a call with PEI's sister title pfm. “We’re discussing implementation issues, we’re hearing from the fund administrators and the software providers who put out the different reporting solutions for the community.”
Later this month, Freire will speak at Invest Europe’s Investor Forum in Geneva as well as the Council of Institutional Investors’ spring conference in Washington, DC. Choi will speak at the NASP Southern California Day of Education in Private Equity in Los Angeles, as well as family office and CFO events in New York later this spring.