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Official guidance by ILPA has been credited with helping to bring a true best practice to the private equity industry, including improved communication and alignment of interest between LPs and GPs. In 2018, ILPA will issue a new iteration of the ILPA Private Equity Principles, which will recommend LP and GP responses to developments in the industry. Join our discussion to have your say about how LPs can work together to bring these ideas to life in the marketplace, including:
Early morning sessions
To what extent do co-investments outperform fund investments and what is the difference in performance between co-sponsored, co-underwrittten and post deal co-investments? Is there evidence of adverse selection and negative selection bias? Are LPs choosing the best deals out of those they are offered?
Presentation followed by interview
What is the impact of co-investing on LP/GP relations? Examining the trend towards GPs charging fees and carried interest: what are LPs’ reactions to this and how can conflicts of interest be overcome?
Why do GPs co-invest? What value do LPs bring to the table in co-investment deals and what other sources of equity capital are they competing with? How are GPs managing the increasing demand for co-investments from their LPs and how do they decide which co-investment deals to offer to which LPs? How have recent SEC investigations impacted this process?
Late morning sessions
How do you ensure you have the deal flow and capacity to generate a diversified co-investment portfolio? What are the risks inherent in a co-investment programme and how are these best managed? What does a diversified portfolio of co-investments look like and how do you deal with volatility?
LP perspectives why are you only seeing post-deal opportunities? What do LPs need to demonstrate in order to be offered co-sponsor deal flow?
With pressure on fund size, how is the opportunity set for mid market co-investments evolving? How attractive is this segment and how does it differ from larger deals?
Early afternoon sessions
No Press. Closed door boardroom session: no pre-registration required. First come first served. Spaces are limited! Run strictly under the Chatham House rule, what is said in this closed-door discussion cannot be attributed to any individual, encouraging participants to speak more openly on the topics that really matter.