Comparison · 13 material differences
ILPA vs TMA
This comparison was generated on request from the records. It carries no editorial verdict and is not indexed. The published comparisons are listed on the compare page.
Read down each column for one organization, across a row for the difference. A bronze mark at the left of a cell means the organizations differ on that row. A dash or “not published” means the organization does not disclose the fact — it is not a zero.
Verified September 2026
Professional association
Verified September 2026 ILPA
Institutional limited partners — pension funds, endowments, foundations, insurers, family offices, sovereign wealth funds and development finance institutions — that invest in…
Professional association
TMA
Professionals working in corporate restructuring, turnaround and distressed business — turnaround practitioners, restructuring lawyers, lenders, investors, accountants, appraisers…
What the records say
- Maximum age at joining — ILPA: No published maximum age at joining; TMA: NextGen membership is limited to new members aged 40 and under at the time of application.
- Industry restriction — ILPA: No published industry restriction; TMA: Work in or around corporate restructuring, turnaround and distressed business — practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultants.
- Annual dues — ILPA: $4,410 a year; TMA: $475 a year.
Side by side
| ILPA | TMA | |
|---|---|---|
| Profile | ||
| Type | Professional association | Professional association |
| Founded | 2002 (ILPA describes its origins as an informal networking club of a few dozen limited partners more than two decades ago; secondary sources date its formal establishment as a trade association to 2002) | 1988 |
| Headquarters | Washington, United States | Chicago, United States |
| Geographic footprint | Members in 50-plus countries; roughly 60% US-based and 40% in Europe, Canada and elsewhere. Offices in Toronto, Washington DC and London. | 54 chapters worldwide, 34 of them in North America; international chapters across Europe, Asia, Latin America, Africa and Australia |
| Members | 600as of September 2026 | 10,000as of September 2026 |
| Chapters | Not applicable — no chapters. ILPA runs 20-plus regional gatherings across 12-plus countries | 54 |
| Primary audience | Institutional limited partners — pension funds, endowments, foundations, insurers, family offices, sovereign wealth funds and development finance institutions — that invest in private market funds | Professionals working in corporate restructuring, turnaround and distressed business — turnaround practitioners, restructuring lawyers, lenders, investors, accountants, appraisers and advisers |
| Typical member | Members are institutions rather than individuals: public and corporate pensions, endowments, foundations, family offices, insurance companies, investment firms, development finance institutions and sovereign wealth funds. Around 7,000 individual professionals sit under those institutional memberships. Service providers, consultants and general partners are excluded. | TMA reports its membership as roughly 43% turnaround practitioners and advisers, 20% attorneys, 14% lenders and bankers, 3% investors and 20% other related professionals including receivers, appraisers, academics, government officials, judges and recruiters. Membership is individual only, not by firm. |
| Qualification | ||
| Maximum age at joining | No published maximum age at joining | NextGen membership is limited to new members aged 40 and under at the time of applicationAvailable for two years or until age 41, whichever comes firstverified September 2026 · source ↗ |
| Industry restriction | No published industry restriction | Work in or around corporate restructuring, turnaround and distressed business — practitioners, attorneys, accountants, investors, lenders, venture capitalists, appraisers, liquidators, executive recruiters and consultantsTMA does not publish a formal eligibility test for professional membershipverified September 2026 · source ↗ |
| Invitation required | No | No |
| Sponsor required | No | No |
| Application process | An institution submits a membership application request form — a separate form exists for associate membership — and ILPA checks it against the three eligibility tests. Fees are then assigned from the four-tier AUM schedule for a 12-month term. Questions go to membership@ilpa.org. | An individual joins through my.turnaround.org, choosing a membership category and a local chapter. Discounted categories — NextGen, government or academic, and student — require verification and are subject to approval. Membership runs for twelve months from enrolment on an individual anniversary cycle. |
| Selectivity | Not publicly disclosed — ILPA publishes eligibility criteria but no acceptance or rejection data | Not publicly disclosed — membership is open to professionals in the field; only the discounted categories are described as subject to approval |
| Cost | ||
| Annual dues | $4,410 a yearTier 1 — total AUM under $1.5 billion. Fees rise about 5% year over year.verified September 2026 · source ↗ | $475 a yearProfessional membership; includes membership of the member's local chapterverified September 2026 · source ↗ |
| Local chapter dues | Fees are institutional, cover a 12-month term, and are banded by total AUM in USD. | No separate chapter dues for professional members — local chapter membership is included in the professional rateverified September 2026 · source ↗ |
| Membership term | 12-month term, renewed annually | 12 months from enrolment, on an individual anniversary cycle |
| Structure | ||
| Meeting frequency | Annual Summit, Legal Conference, Members' Conference and Forum EMEA, plus more than 20 regional gatherings across 12-plus countries and a webcast programme | Local chapter programmes through the year plus TMA Annual, regional symposia and other conferences |
| Peer forums | No standing peer forums; members convene at conferences, regional gatherings and through the ILPA Connect platform | No confidential peer forums; members organise through chapters, committees and volunteer groups |
| Confidentiality | Could not be independently verified — no published confidentiality policy was found | Could not be independently verified — no published confidentiality policy was found |
| Time commitment | Not documented | Not documented |
| Organized as | Event-focused, Virtual | Chapter-based, Event-focused |
| Confidential peer forums | Partial | No |
| Local chapters | No | Yes |
| Virtual membership | Partial | No |
| Online community | Yes | Partial |
| Member directory | Yes | Yes |
| Events | Yes | Yes |
| Programming | ||
| Educational programming | Yes | Yes |
| Leadership development | Partial | Partial |
| Retreats | No | No |
| Travel | No | No |
| Family programming | No | No |
| Spouse and partner programming | No | No |
| Next-generation programming | No | Yes |
| Investment discussions | Yes | Partial |
| Investment opportunities | No | Partial |
| Philanthropic component | No | No |
| Networking emphasis | High | High |
| Social emphasis | Low | Medium |
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