The “denominator effect” tops the list of LP considerations in the current environment, according to an April 8 ILPA publication. The term is shorthand for the shifting portfolio allocation toward private equity that happens when the value of public equity holdings decline. IPLA summarized its anecdotal investor survey findings in a report titled “ILPA Insights: LP Perspectives on the Impact of COVID-19.” Aside from target portfolio allocation, LPs are also reportedly concerned about the pace of capital calls, although 42% of LPs report no change or a decrease in capital call frequency. A majority of LPs report receiving more frequent and detailed information from GPs. The full report is available here.