Template Endorsement & Adoption Information
Endorse the ILPA Templates
If your organization is interested in being recognized for your commitment to the highest standard in private equity reporting, ILPA Template endorsement is simple and straightforward. You can endorse either the ILPA Reporting Template or ILPA Performance Template or both.
What does endorsing the new templates look like?
ILPA will follow a similar approach to endorsements of the 2016 ILPA Reporting Template – specifically, this includes recognizing endorsers on our Template Endorsers webpage.
What commitment is my organization making by endorsing these templates?
ILPA will list endorsers’ names on the new Template Endorsers webpage. Other than potentially mentioning the endorsements list in future ILPA communications, this is the extent of any public commitment with regard to endorsing.
By when does ILPA want endorsers to complete internal approvals?
We are happy to accept template endorsements starting upon release of the templates in January 2025.
What templates are available for endorsement?
Both the updated ILPA Reporting Template and new ILPA Performance Template are available for endorsement. Endorsing organizations may endorse either of the individual templates, or both.
The updated ILPA Reporting Template brings a renewed focus to fee and expense reporting, providing a more granular breakdown of the costs associated with investing in a given fund.
The new ILPA Performance Template details the inputs of the performance metric calculations (i.e., the underlying fund-level transactions and cash flows). In addition, the template creates a standardized calculation methodology for the designated performance metrics (IRR and TVPI/MOIC) by creating a mapping based on the calculation inputs.
What is the endorsement criteria?
In general, a Template endorsement signals that the endorsing organization will:
- Make reasonable, good-faith efforts to align with the template guidelines (all template endorsements).
- Seek to preserve the integrity of the template, making modifications only as established by the template guidelines (all template endorsements).
- Recognize the practical and operational challenges faced by GPs and LPs with regards to completing the template and work collaboratively with each other to ensure that the template is applied in the most effective and efficient way (all template endorsements).
- Support the goal of greater standardization in fee and expense disclosure to improve transparency and comparability across private equity investments (Reporting Template endorsements).
- Support the goal of greater standardization in cash flow reporting and performance calculation methodology to improve the monitoring and analysis of private equity investments (Performance Template endorsements).
For Limited Partners (and their Investment Consultants / Custodians) and Fund of Funds in their capacity as investors, an endorsement also indicates that the organization will:
- Encourage the adoption of the ILPA Templates by GPs, where appropriate.
- Importantly, endorsement reflects aspirational alignment rather than a rigid obligation. While we strongly encourage GP adoption of our templates, we are not requiring that an endorsing LP organization decline an investment solely due to the use or non-use of the templates.
- Request the templates as part of the standard quarterly reporting package, recognizing that availability may vary by fund, vintage, and GP operational capabilities.
- Follow the ILPA guidance on reasonable scope and timing, including parameters set around legacy funds.
- Use data provided by the templates to support portfolio monitoring and analysis.
- Work towards streamlining data requests, especially where the data is captured in the ILPA templates.
- Under no circumstances should the ILPA Templates take precedence over legally required reporting. Where regulatory, legal, or jurisdiction-specific requirements apply, those requirements should always take precedence.
For General Partners (and their Investment Advisors) and Fund of Funds in their capacity as investment managers, an endorsement also indicates that the organization will:
- Be willing to complete the templates for LPs upon request, subject to fund terms and operational considerations.
- Work towards scalable and efficient solutions for providing the templates as part of regular quarterly reporting.
- Align with ILPA guidance around parameters for GPs providing the templates.
- Engage constructively with LPs seeking this information.
For Fund Administrators, an endorsement also indicates that the provider will:
- Be willing to work with GPs to complete the templates for their investors, upon request.
- Work toward scalable and efficient solutions that can provide the templates to any GP or client on a recurring basis.
- Align with ILPA guidance on scope and applicability, recognizing parameters may vary by fund, client, or circumstance.
- Adhere to the guidance around parameters for GPs providing the templates.
For Technology Service Providers, an endorsement also indicates that the organization will:
- Support the ILPA Templates within their systems, incorporating the ILPA template structure and data points.
- Encourage awareness and consideration of the ILPA templates among LP and GP clients.
For Industry Bodies/Associations, an endorsement also indicates that the organization will:
- Promote awareness and adoption of the ILPA templates within their member base.
Endorse the ILPA Templates
- Once your organization has determined that you qualify to endorse the ILPA Template based on the criteria above, please submit your request using this form.
- Once confirmed, organizations are encouraged to make their own announcements and promotions regarding their endorsement, which ILPA will amplify, and are asked to work with ILPA Senior Director of Strategic Communications & Marketing, Megan Goodman at mgoodman@ilpa.org, to coordinate these efforts.
- Any questions should be directed to templatesupport@ilpa.org.
