Institutional Investor Insights: ILPA Organizational Expense Guidance
Overview On May 13, 2026, the Institutional Limited Partners Association (ILPA) published guidance regarding organizational expense management and alignment considerations between limited partners (LPs) and general partners (GPs). ILPA’s The Alignment Gap: Rethinking Costs in Private Equity Fund Formation addresses existing market practices in which LPs typically bear organizational costs, while GPs retain discretion over the related processes and service providers. Background Organizational expenses - legal, administrative, and compliance costs…

