The Institutional Limited Partners Association (ILPA) is seeking to overhaul longstanding PE fund formation practices, arguing that “runaway legal costs” are increasingly burdening investors and distorting incentives across the industry, according to a report by the FT.
The influential investor group, which represents pension funds and sovereign wealth funds, has criticised the established structure in which investors in private equity funds pay not only their own legal expenses but also those i...
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