Host Gary J. Ross talks with Chris Hayes, advisor to institutional investors and former Senior Policy Counsel at Institutional Limited Partners Association (ILPA). Among the topics covered are the preferences of LPs vs. GPs with respect to fund investment strategies; the ILPA model limited partnership agreement (LPA) and its relation to the ILPA guiding principles; specific ILPA LPA provisions including GP removal and fiduciary duty provisions; fund manager conflicts of interest; and challenges facing emerging (i.e. new) fund managers.