In those markets, LPs usually focus even more on **downside protection, governance clarity, and process transparency**:

- **Key person**: clear triggers and what happens if the lead manager steps back
- **Removal for cause**: tightly defined misconduct standards
- **LPAC rights / conflicts**: visible checks on conflicts and approvals
- **Reporting obligations**: frequency, content, and transparency often matter more
- **Investment mandate restrictions**: tighter limits on strategy drift, sectors, geography, and concentration
- **Fund term, extensions, and recycling**: clarity on how long capital is tied up
- **Defaulting LP remedies** and **transfer / withdrawal rules**
- **Side letters / MFN**: fairness across LPs
- Sometimes **waterfall terms** and any **preferred return** discussion become more important too

References:
- https://decilehub.com/base/1-general_questions/163623-when-lps-are-reviewing-an-lpa-what-are-the-terms-they-tend-to-pay-the-most-attention-to-or-negotiate-the-hardest
- https://decilehub.com/base/1-general_questions/163952-on-side-letters-in-8-3-cornerstone-lpa