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INSTITUTIONAL LIMITED PARTNERS ASSOCIATION

Confidential and Proprietary INSTITUTIONAL LIMITED PARTNERS ASSOCIATION Quarterly Reporting Standards Best Practices Version Released october 2011 Best Practices in Quarterly Reporting for Private Equity Sponsors october 2011 Dear ILPA Members and All Contributors to the Development of this Document, My sincerest gratitude to members of the ILPA that participated in the development of these templates as well as all the general PARTNERS , auditors and industry associations that proactively added their voice to this process. I would also like to thank the committee, specifically Jim Pittman of PSP Investments and Michael Elio of LP Capital Advisors, for the work they and their teams have contributed to these efforts.

Best Practices in Quarterly Reporting for Private Equity Sponsors October 2011 Dear ILPA Members and All Contributors to the Development of this Document,

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