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ILPA Virtual Institute: Legal Documents (September)

The Legal Documents course, part of ILPA’s “Intensive” class series, provides participants seeking to deepen knowledge and skills an intensive understanding of the material legal documents used in the process of fund formation. Participants will examine the complexity created by legal documents and their supporting language, key economic considerations and other critical aspects of the investment process as it relates to the legal function.

This course takes an interactive approach incorporating lecture, modeling and negotiation exercises. The faculty include limited partner counsel serving leading institutional investors globally with a proportional and current market perspective. Required and suggested reading materials are sent to participants prior to the start of the session and include 2-3 hours of course preparation.

Who Should Attend?

This course is designed for those legal, compliance and financial professionals who currently need, or will need, to deepen their understanding of the negotiation process involving the terms and conditions of private equity investments.

Course Dates and Fees
September 15-16, 2021 (Virtual) 11:00 - 17:00 GMT /6am - 12pm EST

Member Early Bird rate: $1,199*

Member rate: $1,499

Early Bird Deadline: Extended August 13, 2021

* The Member Early Bird rate represents a 20% virtual discount from our standard rate.

Key Learning Objectives

  • Describe and differentiate core legal documents and typical structures
  • Apply an in-depth understanding of the economic and non-economic terms in limited partnership agreements
  • Identify issues that may arise in associated material agreements and use reasonableness checks, side letters and legal opinions to address them
  • Analyze general partner and advisory/management agreements to understand impact on the limited partner economics
  • Recognize the interdependent nature of legal terms and the relationships they imply for the negotiation process
  • Prioritize the most critical issues for your limited partner organization and anticipate general partners reaction


PRE-REQUISITE: Three or more years of experience directly managing and monitoring a private equity program. Applicants with less than 3 years of experience are required to have completed the ILPA Institute Level I program and submit a letter of endorsement on company letterhead (sample letter available here). The letter of endorsement will establish that the applicant exhibits managerial and leadership potential. They must also demonstrate a level of professional poise and financial acumen necessary to contribute to a senior learning environment. Candidates will be accepted based on availability and subject to ILPA review. As the role of legal counsel does not traditionally include directly managing and monitoring a private equity program, exception will be made for internal legal counsel registrants based on having an acceptable amount of experience in the private equity industry.

PRE-READING: Reading materials will be sent to participants prior to the start of the session. These will include 2-3 hours of course preparation and required reading as well as suggested readings.


CREDIT: 16 CPE Credits

CPE Sponsors logo

Institutional Limited Partners Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

CFA Institute: ILPA members have the ability to earn CE credit for their participation in this program and can use their online CE tracker to document it. Any questions can be directed to the CFA Institute at [email protected].

David Parrish

Partner, DLA Piper

David B. Parrish’s practice primarily focuses on representing investors in reviewing and negotiating alternative investment documentation (including limited partnership agreements, subscription agreements, and private placement memoranda) and in negotiating and preparing of side letters. David is also experienced in co-investments and secondary market transactions, advisory board matters, general partner removal transactions and fund dissolution matters. His experience in alternative investments includes hedge funds, fund of funds, real estate funds, buy-out funds, venture capital funds, credit funds and infrastructure funds and he has experience dealing with Investment Company Act and Investment Advisers Act matters. David received his B.A. degree, with honors, in Political Science from the University of Texas – El Paso. He received his J.D. degree, summa cum laude, from the University of Houston Law Center.