Anne Fossemalle, Chair, Invest Europe & Director, Equity Funds, European Bank for Reconstruction and Development (EBRD)

2021 was a year of record-breaking activity for European private equity as the continent’s recovery from the effects of the pandemic accelerated. Our industry also made great strides in its commitment to crucial issues including ESG and climate change.

As 2022 advances, Europe faces new challenges. The Russian Federation’s invasion of Ukraine brings military conflict to the continent once more, resulting in far-reaching human, societal and economic consequences. One thing remains unchanged, however, Europe will continue to need investment across the entire continent, and private equity will be required to support companies and communities through volatile and uncertain times, while helping fund pensions for European citizens.

The below Invest Europe’s 2021 Highlights provide a snapshot of the association’s actions and achievements last year. These actions are testament to the hard work of Eric de Montgolfier and the Invest Europe team, as well as the dedication and support of Invest Europe’s members. Thank you!

As the EU – and the UK – plot their future courses, long-term patient capital is being recognised as essential to investment, innovation and job creation. Political advocacy is succeeding in educating policymakers about the role of private equity in the economy and society, resulting in positive developments for EU regulation. Invest Europe is setting the record straight via imaginative communications and thought-provoking reports.

Actions speak louder than words. Invest Europe is not only explaining what the industry does, but also actively pushing the boundaries of private equity’s contribution to a strong and sustainable Europe. Our Climate Ambition statement defines the association’s – and the industry’s – path towards net zero; while harmonised ESG reporting standards and data gathering will set benchmarks for transparency for investors, and track performance on a range of issues that matter to them and to the broader society, from carbon emissions to diversity and inclusion. Tackling climate change will remain one of the greatest global challenges, and European private equity will play a leading role, thanks to its transformative power.

The invasion of Ukraine is a stark reminder that geopolitical tensions continue to shake our world. As the voice of private capital in Europe, Invest Europe will stand with all its members on the continent and beyond, representing their interests and ensuring their licence to operate.

In almost three decades at the European Bank for Reconstruction and Development, I have seen first-hand the power of private equity to transform companies – improving governance, investing in growth opportunities, fuelling innovation and creating jobs – generating returns for long-term investors. In doing so, private equity helps drive economic growth, competitiveness, and development. It is a powerful force and one that has a central role to play in Europe’s future.