Governance
ILPA (Institutional Limited Partners Association)
A global association representing institutional LPs that publishes standards, templates, and reporting guidance.
ILPA's reporting templates, due diligence questionnaire, and guidance documents on subscription lines, NAV facilities, and continuation vehicles have become de facto industry standards.
Referencing ILPA guidance in side-letter requests gives LPs a defensible negotiating anchor. Most established GPs are familiar with the standards even when they push back on specific provisions.