6.2.12

Groups like the Institutional Limited Partners Association (ILPA), have already been calling for increased alignment of interests, governance and transparency in private equity investments, and have developed very useful best practice guidelines and templates that have received multiple endorsements. This paper aims to shine a light on moderately to highly structured limited partnership investments (or, sometimes, a limited liability company or corporate investment vehicle), where the investment target is often in an indirect subsidiary or portfolio company one or more levels below.