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January 29, 2016: CHICAGO – The Association for Corporate Growth’s (ACG) President and CEO Gary A. LaBranche, FASAE, CAE, issued the following statement in response to the Institutional Limited Partners Association (ILPA) Fee Reporting Template.
"ACG has held formal and informal discussions with ILPA in an attempt to ensure that middle-market private equity has a voice in the development of a standardized fee reporting template. We are encouraged that a portion of our proposed changes to the template were considered and ultimately included in the template by ILPA and its members.
ACG and its members are committed to clarity and consistency of information provided to investors. However, ACG cannot endorse the template at this time, due to the fact that, among other matters, the definitions of requested information are ambiguous, thus making accurate comparison of data impossible.
Through ACG’s Private Equity Regulatory Task Force (PERT) of middle-market CFOs and CCOs, ACG will continue to work with ILPA to improve the template. In addition, ACG is developing guidelines on fees and expenses to help middle-market private equity firms provide important information to limited partners."
Founded in 1954, the Association for Corporate Growth has 59 chapters across the globe, 45 of which are located in the United States. ACG’s network comprises 90,000 professionals within the middle market, including 14,500 members who serve as the investors, lenders, owners, executives and advisers to growing middle-market companies. ACG’s mission is to drive middle-market growth.
For more information about ACG, please visit www.acg.org.
Jan 29 2016