ILPA Quarterly Reporting Standards Initiative

ILPA is pleased to announce the launch of a project to deliver the next evolution of ILPA quarterly reporting standards through a collaborative effort that will include ILPA members, GPs, Service Providers and other industry bodies. This project is centered on increasing transparency and alignment of interest between GPs and LPs by improving existing ILPA templates – such as the ILPA Reporting Template – and creating the framework for capturing performance metrics and the corresponding contributions/distributions.

Be sure to bookmark this page as the hub for ILPA’s Quarterly Reporting Standards Initiative to see regular updates on the project.

This project is rooted in the requirements set forth in the Quarterly Statements segment of the SEC’s Private Fund Advisers Rules (PFA). Our aim is to create evolved standards that can be adopted across the industry, driving greater convergence and improving the experience for all industry participants.

We are still looking for participants to be involved in the project across LPs, GPs, Service Providers, and Industry Bodies – with opportunities across satellite groups of connected participants and ad hoc engagement.

The project formally kicks off the week of February 12th, with the intention of developing evolved standards through working groups and robust industry engagement to launch a public comment period in May 2024 and finalizing the standards by July 2024. The timeline affords the industry time to implement the standards into their reporting structure for 1Q25, in line with the Quarterly Statements compliance deadline posed by the SEC’s PFA rules.

We will be sharing additional information in the weeks to come related to timelines, project focus, and opportunities to get more involved, provide feedback, and participate in webcasts/roundtables.

Check out the links below to help familiarize yourself with relevant ILPA Materials:

Please click here to get involved and stay informed on latest updates with Quarterly Reporting Standards Initiative:
Express Interest / Stay Informed


Please click here to submit feedback on Quarterly Reporting Standards and Templates:
Submit Comments / Feedback

View additional resources related to ILPA’s work on the SEC Private Fund Advisers Rule

Download the latest version of the ILPA Reporting Template

View additional resources related to the ILPA Reporting Template

Download the latest version of the ILPA Capital Call and Distribution Template