Continuation Vehicles for the Limited Partner

Overview

The Continuation Vehicles for the Limited Partner course, part of Institutional Limited Partners Association’s “Comprehensive” class series, is designed to help participants build confidence and proficiency in evaluating continuation vehicles (CVs). The course focuses on key considerations such as economic terms, governance structures, and alignment of interests.

Given the acceleration of CV activity in the market, this course is relevant for all LPs, whether they are considering selling their position as part of a CV transaction or electing to roll over their investment. Participants will gain an understanding of what a well-run transaction looks like and walk-away equipped with a structured framework to enhance due diligence and seek greater transparency throughout the process to ensure more informed decision making.

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Audience

This program is part of the ILPA Institute’s Comprehensive series of courses and is designed for investment professionals looking to understand and navigate continuation vehicles within their portfolios.

Key Learning Objectives

• Understand what a CV is and the historical rise of impact
• Learn the drivers behind the growth of CVs and the impact on portfolios
• Review key concerns for an LP, including valuation, NAV, fees, LPACs, exit strategies and alignment
• Review market data to understand the significance CVs have on the market
• Learn ILPA best practices and guidance around CVs, and how to leverage resources like ILPA’s Continuation Fund Disclosure Template
• Create a framework around CVs with a focus on GP motivation and alignment, conflicts of interest, track-record, leverage and performance