A small but growing development in the PE landscape is institutional investors’ increased use of outsourced chief investment officers (OCIOs) to make investment decisions and otherwise handle certain investment functions. Although OCIOs grew out of the investment advisory services realm and share many similarities therewith, the increased authority they hold over institutional investors can affect the relationship that PE sponsors have with those LPs, including as to disclosure and due diligence. To understand the ramifications of the OCIO model’s growth, the Private Equity Law Report conducted a series of interviews with in-house counsel, law firm partners, an OCIO search firm and an OCIO provider. This article contains key takeaways from those discussions about why and where OCIO services have developed a presence; how OCIO usage by LPs can mean more efficient, effective communications and fundraising; and how OCIOs can increase the negotiating power of LPs and raise standards for the PE sponsors’ reporting efforts and back‑office operations. See “Investors’ Increased Use of Outsourced Chief Investment Officers and Greater GIPS Compliance Adoption (Part One of Two)” (Nov. 2, 2021).