The Institutional Limited Partners Association (ILPA) has selected Neil Randall, managing director of private equity at the Teacher Retirement System of Texas to serve as the board’s chair. The ILPA comprises more than 500 member institutions, collectively holding over $2 trillion of private equity assets, and seeks to enhance and connect institutional investors and other LPs to maximize their investment performance and general well-being.
In the new position, Randall will be responsible for governing the ILPA, working in tandem with the board, CEO, and leadership team to allocated strategic initiatives for the organization. He succeeds Tanya Carmichael, managing director of global funds at the Ontario Teachers’ Pension Plan. Carmichael leaves as scheduled following her successful 3.5-year tenure in the role.
The ILPA takes up leadership practices for certain areas of the industry it wishes to see improved, previously launching a global implementation push in an effort to make private equity reporting more transparent and standardized.
“I am incredibly honored to have the opportunity to lead such a distinguished board at a time when our association is thriving, thanks in no small part to those who have dedicated themselves to serving limited partners over the last decade,” said Randall. “The work of Tanya Carmichael and the outgoing board directors has enabled ILPA to evolve significantly into an influential and trusted advocate for limited partners.”
Randall has served on the board since 2014, and previously chaired the ILPA’s Research and Benchmarking Committee. Prior to working at Texas Teachers’, he was employed as an associate at Convergent Investors and Dell.
“The chair of the ILPA Board has typically served previously as a Director and has shown commitment to the ILPA in terms of leadership and engagement,” a spokesperson for the ILPA said in a statement. “In addition to his board and committee duties, Neil also was involved in the creation of the ILPA Principles in the early years and has a keen understanding of the market and our mandate.”