ILPA Standardized Reporting Templates

Standardized Reporting Templates

Capital Call & Distribution Notices

Quarterly Reporting Standards

Resources

• FAQ – ILPA Standards
• FAQ – ILPA and IPEV
• Reporting Checklist
• Portfolio Company Update Excel Template (pg. 31 of the Quarterly Reporting Standards document)

Overview

The ILPA has been working, in conjunction with GPs and LPs, to develop a set of Standardized Reporting Templates to not only improve transparency between the general partner and limited partner communities but to generate industry efficiencies. The Standards will allow for consistency of reporting, uniformity of information, reduction in time required to reconcile reports and less time responding to questions from investors on various and sundry items. The Capital Call & Distribution Notice Templates were released in January 2011 and the Quarterly Reporting Standards were released October 18th, 2011.

The adoption of these reporting guidelines will serve several purposes, including, but not limited to:

• Enabling the LP to interpret & account for a transaction accurately
• Reducing LP and GP processing times and ultimately reducing monitoring costs
• Improving LP-GP communications in regards to an investment’s status and thereby minimizing required follow-up questions
• Enabling GP compliance with legal terms in documentation

The ILPA has been encouraged by the support received by industry thought-leaders throughout this process. Through collaboration we have been able to create solutions that we believe will address inefficiencies in the market and strengthen the asset class. The exhaustive nature of this exercise was intentional in order capture the views of all interested industry constituents.

As you work through these documents, please keep in mind the following:

• It is not the intent of the ILPA to force all general partners to produce their statements in this exact format; the information reported is key to the exercise. We have provided specific examples to demonstrate the level of disclosure required by the institutional investors and to articulate an ideal to which reporting transparency can be achieved
• The mathematical examples that we cite in the document are actual examples provided by general partners to demonstrate a particular concept and given the independent nature of each example, the numbers are not intended to tie together
• Comments can be contributed here

The ILPA recognizes that while it cannot take a one-size-fits-all approach to any of its best practice documents, it encourages its members, general partners and industry thought-leaders to support this initiative, which we anticipate will lead to the long-term strengthening of the asset class.