Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 246 On behalf of our dedicated staff, Board of Directors and rapidly growing, global membership base, I am privileged to report on a strong year of progress and momentum for the ILPA. We set an ambitious agenda for 2016 and system- atically made progress against each major goal, exceeding our expectations along the way. Here are just some of the highlights, detailed more fully in this year’s annual report: • In 2016, our work continued to elevate the profile of the ILPA globally. We added an historic 70 new and impressive members to our membership, bringing strength to our voice and a broader and more diverse perspective to our collective point of view. • Our Transparency Initiative yielded the development of the ILPA Reporting Template which is now actively promoting standardized fee reporting practices throughout the private equity industry. The endorsement and adoption of the Template by LPs and GPs is encouraging and on-going. At this point I am confident in declaring that an industry standard has been set. • The ILPA education platform experienced record registration numbers, with attendance exceeding expectations in every city, and has prompted us to extend our offerings in terms of new forums, expanded curriculum and more venues. We continue to set the bar for LP education, serving our professional membership across level and function. • This year’s events enjoyed our largest attendances ever as we added new features, format and content to our Members’ Conference and ILPA Summit. We also held over 50% more Global Events which brought together our membership in smaller more intimate forums around the world to discuss the most pressing issues of the day. • With the launch of the ILPA White Paper series and introduction of new industry best practices in 2016, we continued to grow our research function and contribute to the important conversations in private equity. None of these accomplishments would have been possible without the commitment of our outstanding and tireless professional staff whose dedica- tion to the LP community is unyielding. The support and direction received from the various ILPA committees and Board of Directors continues to be invaluable as we pursue a vision that includes expanded offerings, broader reach and an ever stronger influence throughout the private equity ecosystem. As we look ahead to 2017, we could not be more optimistic for the future of the MESSAGE FROM THE CEO Chief Executive Officer Peter Freire