ILPA Templates Hub
What ILPA Is
The Institutional Limited Partners Association (ILPA) is a non-profit industry body representing LP interests in private markets. Its membership includes pension funds, endowments, sovereign wealth funds, insurance companies, and other institutional investors that allocate capital to private equity, private credit, infrastructure, and real assets.
ILPA publishes guidance, model documents, and templates aimed at improving transparency, standardisation, and accountability in the LP/GP relationship.
The Templates Hub
The ILPA Templates Hub provides a set of industry-standard templates for private markets fund reporting and operations. These templates are made available publicly and are widely referenced by GPs and their administrators when designing reporting and processes.
Key template categories include:
Reporting Template — A standardised format for quarterly LP reporting, covering capital account statements, portfolio company summaries, and fund-level performance data. Widely used as a baseline for what investors expect in regular fund updates.
Performance Template — A standardised approach to reporting fund performance metrics including IRR and TVPI/DPI/RVPI multiples, designed to improve consistency and comparability across managers.
Capital Call and Distribution Notices — Model templates for capital call and distribution notices, covering required fields such as purpose, amounts, due dates, and bank instructions.
Fee and Expense Reporting — Templates and guidance on transparent disclosure of management fees, fund expenses, and carried interest calculations.
Note: Templates are periodically updated. The ILPA Templates Hub page should be consulted for the current version of each template. This source note reflects publicly available summary descriptions, not a review of the current template documents.
Why It Matters
ILPA templates matter in practice because:
- Many LPs use ILPA reporting templates as a minimum expectation when onboarding a new fund relationship. GPs that adopt them reduce friction in LP due diligence and reporting reviews.
- The performance template provides a common methodology for calculating and presenting IRR, TVPI, DPI, and RVPI, reducing the risk of inconsistent calculations across managers.
- The fee and expense template supports the transparency expectations increasingly demanded by institutional LPs — particularly around management fee offsets and carried interest disclosure.
- Capital call and distribution notice templates provide a structural baseline for capital call and distribution processes, reducing errors in notice content and bank instructions.
For investor reporting teams, ILPA templates provide a practical reference for what fields to include, how to structure capital account statements, and how to present fund-level vs investor-level data.
For fee calculations, ILPA guidance on fee disclosure supports more transparent fund accounting and reduces LP/GP disputes over fee terms.
Relevant Local Files
Source Verification Note
This source note is based on ILPA’s publicly available summary descriptions and the Templates Hub landing page. The full template documents may be downloaded from ILPA’s website and are not reproduced here. Specific template versions, field definitions, and methodology details should be verified against the current published templates at the source URL above.