TowerBrook Capital Partners Endorses ILPA Reporting Template
15 May 2017 – TowerBrook Capital Partners L.P. (“TowerBrook”), today announced that it has endorsed the Institutional Limited Partners Association’s (ILPA) standard Reporting Template on fees, expenses and carried interest for its flagship $3.7bn TowerBrook Investors IV private equity fund.
Ramez Sousou, Co-Founder and Co-CEO of TowerBrook, said: “The ILPA Reporting Template has been widely endorsed by the private equity community as the best standard for collecting fee and expense data for private equity funds. Transparency is a critical part of our relationship with our LPs, and we are committed to providing them with clear and comprehensive information.” Neal Moszkowski, Co-Founder and Co-CEO of TowerBrook, added, “We hope that over time this template creates a uniform process for disclosure to provide our LPs with an improved baseline of information to streamline analysis and drive decision making.”
Since its launch in January 2016, the ILPA Reporting Template has been endorsed by many of the largest public pension plans in the world. The initiative aims to establish more robust and consistent standards for fee and expense reporting and compliance disclosures among investors, fund managers and advisers.
Peter Freire, CEO of ILPA, stated: “We applaud TowerBrook for embracing the ILPA Reporting Template and demonstrating a clear commitment to transparency and disclosure with their limited partners. Firms such as TowerBrook who have endorsed this standard have contributed to the improved efficiency and effectiveness of the private equity industry, raising the bar for everyone.”Back