For its Industry Intelligence Report, sponsored by Colmore, ILPA surveyed its members on management fees, fund leverage provisions, and fiduciary duties among other topics. The report’s key findings can be found here, and the full report is exclusively available to ILPA members through the ILPA website. 

The survey results show that management fees have remained stable, but as fund sizes have increased the absolute management fees now cover a smaller portion of total expenses. Similarly, high horizontal expenses remain a ‘pain point’ for LPs, as they have increased 123% since 2011. However, real progress has been made in transparency, with 59% of LPs having received the industry standard ILPA Fee Template at least half of the time.