Term Sheets & Guidelines

This section provides relevant industry resources for Latin America private equity and venture capital fund managers and investors in areas including valuation, LP-GP relations and corporate governance. Guidelines are gathered from multiple industry associations, many of whom have worked together to develop consistent policies and to promote best practices in the global private equity and venture capital community.

LAVCA PE/VC TERM SHEETS

Argentina Map 2
Argentina (Spanish) (English)		 Brazil
Brazil (Portuguese) (English)		 Mexico
Mexico (Spanish) (English)

Valuation Guidelines

International Private Equity and Venture Capital Valuation Guidelines

LAVCA endorses the International Private Equity Valuation Guidelines (IPEV Guidelines) and considers them an acceptable method to be used by Latin America private equity and venture capital funds. The Valuation guidelines provide fund managers and investors with a framework to examine the value of existing investments. The guidelines are consistent with International Financial Reporting Standards (IRFS) and US Generally Accepted Accounting Principles (US GAAP).

LP-GP Relations

ILPA Private Equity Principles

The Institutional Limited Partners Association (ILPA) has developed a set of Private Equity Principles with the goal of strengthening the relationship and communication between limited partners and general partners. The ILPA Principles are structured around three guiding principles – alignment of interest, governance and transparency.

PRI ESG Monitoring, Reporting and Dialogue in Private Equity (2018)

The PRI launched guidance on ESG monitoring, reporting and dialogue in private equity. The guidance:

  • Builds the business case and provides context for the increasing requests for ESG disclosure in private equity;
  • Gives an overview of how LPs are currently monitoring GPs on ESG integration and how they use the information that they receive;
  • Proposes a flexible ESG monitoring and reporting framework that builds on existing information collected during fundraising and streamlines the information exchange, and is supported by examples of how GPs might respond to the disclosure requests.
Environmental, Social, and Corporate Governance (ESG) Disclosure Framework for Private Equity (2013)

The Environmental, Social and Corporate Governance (ESG) Disclosure Framework for Private Equity was developed to help general partners (GPs) better understand the reporting requirements of limited partners (LPs) for ESG related information.

The Framework was produced in a process involving more than 40 limited partners from 11 countries, 20 Private Equity Associations – including LAVCA- and 10 general partners.

IFC Performance Standards on Environmental and Social Sustainability (International Finance Corporation)
BVCA Guide to Responsible Investment (BVCA)
Incorporating Responsible Investment Requirements into PE Fund Terms (UNPRI)
A Practical Guide to ESG Integration for Equity Investing (UNPRI)

Other Guidelines

Regulatory White Papers

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