Capital Allocators · Monday, October 26, 2026
Scott Ramsauer shared that ILPA is currently drafting version 2.0 of its continuation vehicle best practices to address transparency and pricing concerns in secondary transactions. He explained that the framework focuses on four key areas: genuine rationale, competitive auction processes, third-party fairness opinions, and governance and alignment.
“ILPA has issued a 2.0 of continuation vehicle best practices. It's in the draft process, collecting community input. It comes down to four things, one of which is pricing. The first is the rationale. Is there a genuine rationale?”
“ILPA's trying to help and come out with a standardized checklist for the GP to fill out. Did you do X? Did you do Y? Oftentimes, you have to peel back the onion.”