The Institutional Limited Partners Association, the main group advocating for best practices between institutional investors and private equity firms, named Michael Mazzola, the head of alternative investments at MetLife, as its new board chairman. The appointment was effective on Nov. 7th.
In a statement, Mazzola said, ”I look forward to working with members and the broader private equity community on initiatives that will strengthen the asset class over the long term.” Based in Toronto, the organization claims more than 274 member organizations that collectively manage over $1 trillion of private equity assets. Members include institutional investors, such as pension funds and endowments.
Mazzola added that he was eager for the organization to expand beyond the advocacy of best practices, extending the organization’s “position as a leading provider of private equity industry research and educational offerings.” One of the association’s signature achievements to date has been the release of a set of recommended partnership terms and conditions, a move that has helped investors negotiate more LP-friendly terms; some GPs have begun to tout their terms as ILPA-compliant.
In addition to the appointment of Mazzola, ILPA’s board also appointed the following returning directors to its executive committee: Lindel Eakman, the managing director of private markets at the University of Texas Investment Management Company will return as the organization’s vice chairman; Richard Hall, the head of private equity and principal investments at the Texas Teachers’ Retirement System, will be ILPA’s board secretary, Jesus Arguelles, a portfolio manager at the California Public Employees’ Retirement System, will be treasurer, Jennifer Kerr, a senior principal at the Canada Pension Plan Investment Board, will head ILPA’s education committee; and Robert Van Schaik, a private equity portfolio manager at the Shell Asset Management Company, will head the board’s membership committee.
Other returning board members include Raquel Chmielewski, a senior investment analyst at the Lockheed Martin Investment Management Company; Mark Fehrs Haukohl, the president of the Vero Group; Dhvani Shah, the chief investment officer at the Illinois Municipal Retirement Fund; Brad Woolworth, the head of private markets and real assets at the City of Philadelphia Board of Pensions and Retirement, and Jeremy Kranz, a senior vice president at GIC Special Investment Pte Ltd.
There were two new board members as well: Tanya Carmichael, a portfolio manager at the Ontario Teachers’ Pension Plan and Nicolas Drapeau, the head of infrastructure and private equity investments at Bimcor Inc.