Private equity investor body sounds alarm on ‘conflict vehicles’

the institutional limited partners association (ilpa) warned that continuation vehicles and the industry's rush for retail money are creating "conflict vehicles." ilpa's executive said these structures are driving problematic behavior by private equity firms. the group represents large investors like pension funds and endowments that commit capital to pe funds. ilpa has been pushing for more transparency around continuation vehicles, which let managers keep assets past a fund's original term by selling them into a new vehicle they also control. the executive didn't name specific firms but said the conflicts are "systemic."