The Institutional Limited Partner Association (ILPA) has released new guidance on continuation funds for both limited partners and general partners. The guidance seeks to provide parameters for efficient transactions and promote greater alignment and transparency for market participants. Produced with input from LPs and GPs, the guidance covers the following areas:

• Rationale and conflicts
• Process and timing
• Terms and documentation
• Fees
• Recommendations for LPs

If you have any questions please contact Nick Smith.