BVCA Responds to GMG Annual Report

Responding to the second report of the Guidelines Monitoring Group, established to monitor compliance with the Walker Guidelines, Simon Walker, chief executive of the British Private Equity and Venture Capital Association said:

The BVCA welcomes the second report of the Guidelines Monitoring Group in its entirety. I would like to thank Sir Mike Rake and his colleagues for their extraordinary efforts.

This report confirms in striking terms the continuing commitment of the private equity industry to greater levels of transparency and disclosure.

The 34 private equity firms and 60 portfolio companies covered by the Guidelines and which come within the scope of the Guidelines Monitoring Group, constitute well over 80% of funds under management, cover the vast bulk of private equity owned companies by value and are broadly equivalent to the FTSE 350. They are a highly appropriate audience of whom to ask for more disclosure.

The evolution of the Guidelines this year, through the expansion of the number of private equity firms and portfolio companies falling within the requirements, was a highly desirable but incremental step. The BVCA looks forward to the recommendations of the GMG once it has completed its consultation on reducing the size threshold for compliance from £500m to £350m.'

The full report by the Guidelines Monitoring Group can be viewed on the GMG website here.

For further information please contact:

Nathan Williams, BVCA               0207 420 1807/ 07825 678 701