10 THE POWER OF THE NETWORK Message from the CEO PETER FREIRE CHIEF EXECUTIVE OFFICER Having grown to just shy of 340 members and a membership renewal rate of 96 this past year has been a strong one for the ILPA. Looking back across 2015 a number of achievements stand out First the ILPA again hosted two widely lauded events. The Members-Only Conference in Pasadena remains the largest LP-only gathering on the planet offering high-caliber professional development and high-end networking in a commercial free environment. The ILPAs 11th annual GP Summit in New York City in November was again an unreserved success offering GPs and LPs alike an unparalleled forum to connect with pre-selected commercial prospects carefully aligned to their particular business objectives. Second the ILPA Institute run in conjunction with the University of Chicagos Booth School of Business remains the standard-bearer for LP private equity executive education enhancing the knowledge of hundreds of practitioners the world over and more than 300 participants in 2015 alone. From Dispelling ESG Myths to Co-Investments the ILPAs educational platform of webcasts workshops and seminars tackled a range of issues facing our members over the last year. Third the ILPA-Cambridge Associates Private Markets Benchmark the leading global benchmark for the performance of institutional quality PE funds grew to over 3300 ILPA Member funds. ILPAs inaugural publication of the Member Metrics Survey profiles the practices and key benchmarks of ILPAs members from asset allocation to commitment pacingsupplementing our long-standing Compensation Survey. Finally the Fee Transparency Initiative and its related ILPA Reporting Template placed the ILPA at the forefront of an industry-wide effort to transform the industrys approach to the reporting of fees and costs. The initiative has received strong support not just from GPs and service providers but also from the media and regulators. As I look to 2016 my focus will be on ensuring that the ILPA continues to grow its membership globally while adding ever more value to existing members through new and enhanced service offerings and increased member engagement.