Glossary
LPAC (limited partner advisory committee)
A committee of LP representatives that advises the GP on conflicts of interest, valuations and other matters the LPA reserves for it.
In practice
LPAC consents — for continuation funds, related-party transactions or term extensions — must be documented and retained.
In FUN/D
FUN/D keeps LPAC materials and consents with the fund's records.
Related: LPA · Continuation fund · Key person clause · full glossary
See how FUN/D handles this on your fund.
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