On June 1, 2026, ILPA submitted a comment letter on the U.S. Department of Labor’s Fiduciary Duties in Selecting Designated Investment Alternatives proposed regulation. The comment letter draws on the knowledge and perspective gained from ILPA’s work empowering LPs and actively advancing stronger governance, transparency, and alignment of interests between LPs and GPs across private markets for nearly 25 years.
The comment letter highlights our view on where the process-based safe harbor would benefit from further clarification and closer consideration across the six factors (and beyond): performance, fees, liquidity, valuation, performance benchmark, and complexity.
