Canada Pension Plan Investment Board: Institutional Limited Partners Association Holds Toronto Meeting.

Business Editors

TORONTO--(BUSINESS WIRE)--Oct. 1, 2002

The Institutional Limited Partners Association held its semi-annual meeting in Toronto, Canada on September 18-20. In attendance at the Toronto meeting were more than 125 representatives from 80 member institutions from 9 countries. The meeting covered a variety of topics of interest to limited partner investors, including the valuation of private equity interests.

The meeting was hosted by four Canadian institutional investors in private equity - the Ontario Municipal Employees Retirement System, Ontario Teachers' Pension Plan, the University of Toronto Asset Management Corporation and the Canada Pension Plan Investment Board.

The ILPA meetings are private, but, as appropriate, select external parties participate as guest speakers and panelists. At the Toronto meeting, panelists included representatives of the British, Canadian, European and National Venture Capital Associations, the Canadian Institute of Chartered Business Valuators, the Association for Investment Management and Research, and members of the legal and accounting professions.

At the meeting, Mr. Kevin G. Lynch, Canada's Deputy Minister of Finance, made a presentation on the substantial progress the Canadian economy has made in the past decade as a result of Canadian public policy, significantly improving its rankings among the G7's most efficient and productive economies. Also addressing the meeting was Dr. Colin Blaydon, Founding Director of the Foster Center for Private Equity at the Tuck School of Business at Dartmouth, who made a presentation on the Center's survey of U.S. venture capital and buyout funds' valuation practices, the results of which are expected to be released soon.

The Institutional Limited Partners Association is a non-profit organization committed to serving limited partner investors in the global private equity industry by (a) providing a forum for facilitating value-added communication; (b) enhancing education in the asset class, and (C) promoting research and standards in the private equity industry. The ILPA has 157 member organizations from over 9 countries, including corporate and public pension plans, endowments and foundations, insurance companies and other institutional investors. In total, ILPA members have assets under management in excess of one trillion U.S. dollars, including more than US$60 billion of private equity capital. The ILPA is governed by an 11-member Board whose members represent a broad range of private equity investors.

THE INSTITUTIONAL LIMITED PARTNERS ASSOCIATION FACT SHEET

-- The Institutional Limited Partners Association is a non-profit organization committed to serving limited partner investors in the global private equity industry by providing a forum for:

-- facilitating value-added communication;

-- enhancing education in the asset class; and

-- promoting research and standards in the private equity industry.

-- Founded as an informal networking group, the ILPA is a voluntary association funded by its members. The ILPA membership has grown to include more than 150 member organizations from over 9 countries, who in total have assets under management in excess of one trillion U.S. dollars. Members of the ILPA manage more than US$60 billion of private equity capital.

-- The ILPA membership comprises corporate and public pension plans, endowments and foundations, insurance companies and other institutional investors in private equity.

-- The ILPA holds semi-annual meetings for members with selected external parties invited to participate as guest speakers and panelists, when appropriate.

-- The ILPA is governed by a Board consisting of 11 members, including a 6-member Executive Committee, as follows:

-- Mark Barnard, Treasurer (Howard Hughes Medical Institute)

-- Wen Ling Chin (San Francisco City & County)

-- Raul Diaz (Knight Foundation)

-- Frank Fernandez, Vice Chair (Florida State Board of Administration)

-- Pamela Harris-Jenkins, Membership Director (BellSouth Corporation)

-- Rick Hayes, Chairman (CalPERS)

-- Kevin Kester, Program Director (Colorado PERA)

-- Garrett Mc Donald (World Bank Pension Fund)

-- David Rogers (Ontario Municipal Employees Retirement System)

-- Jeff Sharpe, Secretary (Lockheed Martin Investment Management Company)

-- Mark Weisdorf (Canada Pension Plan Investment Board)

In addition to the Executive Committee, the ILPA Board currently has 6 other Committees, with responsibilities as follows:

-- Communications and External Relations, chaired by Frank

Fernandez, responsible for the implementation of

communications policies, practices and procedures, as well as

leading external relations initiatives;

-- Finance, chaired by Mark Barnard, managing budgets, finance

and dues;

-- Membership, chaired by Pamela Harris-Jenkins, membership

approval and administration;

-- Program Committee, chaired by Kevin Kester, enhancing

information sharing and networking, and identifying projects

related to research, education and standards; and

-- Research, Benchmarking and Standards, chaired by Mark

Weisdorf, initiating research, benchmarking and standards with

respect to reporting and information disclosure to LPs,

valuation and performance measurement and other matters of

interest to institutional investors in private equity.