ILPA Private Equity Legal Conference
The ILPA Private Equity Legal Conference (LCON) will be coming back in person in Washington D.C., October 12-13, 2022! Please contact Holly Makarchuk for any questions you might have.
LCON provides the opportunity for legal and compliance professionals across ILPA’s diverse geographic reach and LP institutions to meet their peers and learn and discuss trending legal topics in the private equity industry. It is the only conference that unites LP legal professionals across the variety of LP institutions that are our members, including public and private pensions, endowments, foundations, insurers and sovereign funds.
2021 Session Descriptions:
Top Takeaways from the 2021 ILPA Fund Terms Survey:
This session will share newly released actionable insights from ILPA’s 2021 ILPA Industry Intelligence Report on Private Equity Fund Terms. Panelists from Colmore and K&L Gates will analyze and discuss the survey findings, including where LP counsel can utilize the results to improve their fund negotiation outcomes.
Expecting the Expected - Planning for GP Restructurings:
Here we will provide a practical guide for LPs preparing to respond to an election notice for a GP-led secondaries transaction. We will take a soup to nuts approach and identify the most important and time critical questions LPs should ask and steps LPs should take in the often very truncated deal timetable in response to a GP issuing an election notice, from receipt of the election notice to evaluating success post-transaction.
Private Equity Fund Negotiations – Examining the Divergence between
Academic Theory and Economic Reality:
This conversation will examine whether conventional free-market laissez-faire contractual theory can be relied upon to produce optimal results in the private equity fund industry, consequences for investors and potential implications for policy makers.
Current Issues in Fund Economics:
This session will discuss current trends in fund economic terms, negotiation strategies and will focus on consideration of the entire economic picture, including management fees and shifting of partnership expenses, the impact of lending facilities on fund economics and fund waterfall structures.
Keynote: What Happens When a Private Equity Firm Falls Apart: A discussion of the Book "The Key Man: The True Story of How the Global Elite Was Duped by a Capitalist Fairy Tale" by Simon Clark and Will Louch:
A discussion and Q&A with Simon Clark and Will Louch on their recently released book covering the rise and fall of Abraaj Group, a Dubai based private equity firm and its founder, Arif Naqvi, in 2019. The discussion will include some of the lessons Simon and Will learned as journalists investigating Abraaj, and the ramifications of the lack of transparency in the private fund industry for LPs and their beneficiaries.
Making Sense of ESG Regulations, Disclosures and Fund Terms
Here we will discuss the growing area of ESG reporting and disclosure including where in the LPA and side letter these provisions can be addressed and issues surrounding excuse rights. We will also review if GPs are or should be disclosing ESG risk, including on Form ADV, in the PPM and their ESG policy statements and how LPs can verify that these representations are accurate.
Manager Due Diligence: What LPs can Learn from the SEC Private Fund Exam Program:
Join Igor Rozenblit, who previously served as the Co-Head of the Private Funds Unit in the SEC’s Division of Examinations to discuss unique strategies, insights and impressions on the market and the compliance activities of private fund advisers from his time at the SEC, as well as how LPs can learn from the SEC in their due diligence process. He will be joined by Bob Perez, who represents LPs in their due diligence activities, who will share insights he has learned from being onsite for due diligence from a more direct LP perspective.
Using Fund Leverage: Structural Considerations and Implications for LPs:
This session will discuss the rapidly changing landscape of fund leverage, including subscription lines, NAV facilities and co-invest facilities, among other innovations. The panelists will cover the technical aspects of the lending agreements and structures between the GP and the lender, while also sharing what areas are relevant for LPs to review and address in their due diligence and fund terms negotiations.
CLE Credit Information
The workshop sessions at the 2021 Private Equity Legal Conference are applicable for CLE credits. However, ILPA is not able to issue CLE credits directly. In order to receive CLE credits for applicable programs, members are responsible for filing for their CLE accreditation directly with their state/provincial CLE authority. ILPA will send the presentations for the applicable workshops to all conference attendees after the event.
Each State/Province rewards CLE credit hours differently and have varying approval guidelines. Therefore, it is best to consult your jurisdiction to confirm what is required for you to submit. ILPA is pleased to provide you with any supporting documentation needed during your filing process. Please click here to be directed to your jurisdiction's CLE governing office website.
2022 Event Details
Date: October 12-12, 2022
Location: The Ritz-Carlton, Pentagon City