The Institutional Limited Partners Association has released a model limited partnership agreement for the private equity industry. As a legal template, the model is available for free to the industry and establishes a new standard for aligning the interests of general and limited partners, according to a release from the association. It addresses a need […]
The Institutional Limited Partners Association has released new best practices guidance covering a variety of topics in the private equity space. One topic is management fees, which the association said should be based on reasonable expenses that are normal operating costs of the fund. And, it noted, when new funds are formed, general partners should […]