b'ILPA ANNUAL REPORT 20196MESSAGE FROM THE CEOOurPEindustrystandardsandbestpractices initiativesincludingourflagshipILPAPrinciples3.0 and the first public Model Limited PartnershipAgreementset the bar for the private equity asset class in terms of pursuing the alignment of interests AsIlookbackonmyfirstfullyearasCEO,Iambetween general and limited partners. incrediblyproudofILPAsefforts,energyandWe continued to connect with membersboth in accomplishments.Our vision to engage, empowerperson and onlineat more than 30 ILPA-led events and connect limited partners on a global basis wasaround the world. Notably we added two new ILPA broughttolifeinamultitudeofways,havingaexperiences: Our first European Summit which willtremendouspositiveimpactonourmembersandlaunch in January 2020 in London, and our inaugural the private equity industry overall. Here at ILPA, wePELegalConference.Theseeventswerefurther believe that impact is more than just an impressionbolstered by our ILPA Connect members platform leftbehind.Ifdeliveredwithpurposeandfocus,and our LP Insights program which allowed us to impact can emanate well beyond its intended targethear on a regular basis directly from our members tobenefitanexpandedgroupofstakeholders. about issues that are most pressing for them.During2019,weworkeddiligentlytoensurethatThe ILPA staff grew in the past year as we strateg- ILPAs efforts positively affected our members so thatcally increased our resources so that we may serve they, in turn, would be in the best position to impactmore members in more ways. I credit our past and their beneficiaries. Our momentum throughout thefuture success to our amazing team and our dedi- year was constant, allowing the Association to havecatedBoardwhoworkdiligentlytoensurethe an ever-deeper and wider impact on limited partnersneeds of our diverse membership are met.andtheprivateequityindustryasawhole.Some highlights are as follows: The past year has been a dynamic one for the private Ourmembershipcontinuedtoexpandandnowequity industry, characterized by strong returns, but exceeds535organizations,5,400professionalsalsouniquechallengesforLPs.Fromthevolume inmorethan50countries.Duringtheyear,weand pace of fundraising to evolving GP practices to conductedourMembershipExperienceSurvey,increasedstakeholderscrutiny,significantforces receiving a tremendous response and uncoveringhaveimpactedthelimitedpartnerexperiencein numerous opportunities to engage and deliver even2019 and will likely persist in the next decade. Our more value to a broader base of LPs in the years towork has never been more important and we remain come.Wehavealreadybegunmuchofthatcommitted to serving our growing membership base important work. amidstthisbackdrop.Our ILPA Institute expansion allowed us to educateWe look forward to the opportunity. twice as many limited partners around the worldSincerely, in 2019, delivering more best-in-class professionalSteve NelsondevelopmentexperiencesclosertowhereourCEO, ILPAmembers live and work.'