Back to Basics: The Model Subscription Agreement
Yuliya Oryol presented "Back to Basics: The Model Subscription Agreement" on March 22, 2018 at our Los Angeles office. Hosted by The Institutional Limited Partners Association (ILPA), the seminar looked at the association’s model document that was published on December 13, 2017, which was the first in a series as part of the ILPA LPA Simplification Initiative.
This document, the ILPA Model Subscription Agreement, was created for investors in an attempt to standardize the subscription process into private equity funds, which will increase clarity, reduce costs, and streamline fundraising. The LPA Simplification Initiative is an effort to focus on the critical legal documents that are the building blocks of the private equity asset class by eliminating unnecessary cost and complexity, and leveling the playing field for both investors and managers.
Yuliya discussed the ways in which this first foray into simplifying legal documents can help investors, and provide input to shape the future direction of ILPA's industry initiatives.