Expansion to the ILPA Standard DDQ and Guidance on Code of Conduct
Seek to Advance D&I Efforts Across the Ecosystem
WASHINGTON and TORONTO, Sept. 24, 2018 (GLOBE NEWSWIRE) -- The Institutional Limited Partners Association (ILPA) today announced the publication of several resources developed to support the advancement of diversity and inclusion (D&I) within the private equity (PE) industry. These resources include an expansion to ILPA’s standard Due Diligence Questionnaire (DDQ) and guidance for developing organizational Codes of Conduct for general partners (GPs), limited partners (LPs) and fund portfolio companies. The work was completed over the course of 2018 by a cross section of ILPA members representing a global perspective.
Steve Nelson, CEO of ILPA, reflected on the imperative for all industry players to contribute to the D&I effort in a positive manner:
“ILPA believes that diversity and inclusion is a strength that all stakeholders within the private equity ecosystem should embrace and promote in meaningful ways,” said Nelson. “The DDQ expansion and Code of Conduct guidance represent an opportunity for LPs and GPs to have conversations about these important issues, in the spirit of a stronger and ever-improving workplace for everyone. We look forward to advancing these ideals which serve as the foundation for a healthy, prosperous industry.”
The DDQ expansion includes a template for GP firms to measure and report the gender and ethnic diversity of their teams by seniority and role. It also comprises a new section of questions that will enhance an LP’s understanding of a GP’s policies and procedures in areas such as hiring, promotions, family leave, mentoring, and harassment and discrimination. The Code of Conduct guidance identifies the components that should be included in such a document regarding an organization’s approach to defining, reporting, investigating and disciplining harassment, discrimination and violence in the workplace.
ILPA produced these new materials to serve as resources for organizations seeking to develop a more fulsome D&I approach. The organization is accepting feedback on the materials on its website, and looks forward to continuing a productive conversation on these efforts and future D&I initiatives.
About the Institutional Limited Partners Association (ILPA)
The Institutional Limited Partners Association (ILPA) engages, empowers and connects limited partners to maximize their performance on an individual, institutional and collective basis. With more than 475 member institutions representing over $2 trillion USD of private equity assets under management, ILPA is the only global organization dedicated exclusively to advancing the interests of LPs and their beneficiaries through best-in-class education, research, advocacy and events.
Contact:
Emily Mendell
Managing Director, ILPA
emendell@ilpa.org
610-565-4692