Law firm Pollah + Partners has published a white paper on what you need to know about ILPA titled “The growing importance of fund governance – ILPA principles and beyond.” The paper warns that investors have been forced to become more creative to protect their interest:
These include calling for advisory board meetings, initiating special limited partner meetings and
coordinating among investors to build a (super-)majority, ‘strategic defaults’ (as opposed to defaults due to liquidity issues), and entering into negotiated settlements of disputes with general partners. These aspects are not covered by the ILPA principles. For better investor coordination, it is essential that investors receive a list of limited partners with contact information and list of advisory committee members (another ILPA demand).
View the entire article below.
The growing importance of fund governance – ILPA principles and beyond