27 Jun 2013
The European Private Equity & Venture Capital Association has elected George Anson, of HarbourVest Partners, as its Chairman. George is the first EVCA chairman to be an investor (Limited Partner).
George succeeded Vincenzo Morelli, of TPG Capital, at the EVCA 30th Anniversary Symposium, held today in Istanbul, Turkey.
He said: "As it reaches its 30th anniversary, the EVCA is at an important crossroads. Private equity fund managers become regulated by the EU this year and have gained recognition as essential drivers of growth through their active investments in European companies. The spotlight now turns to private equity's investors and how regulatory change will impact them.
"The EVCA has long recognised the importance of the industry working together. As the first Limited Partner (LP) to have the honour as serving as the EVCA's Chairman, I intend to build on a strong platform of over 100 LP members to encourage openness, transparency and the highest standards of governance through adherence to the EVCA Handbook of Professional Standards. I also aim to bring home the message to policymakers that as well as driving increased innovation, productivity and competitiveness in thousands of European companies, millions of Europe's pensioners and savers are benefitting from the returns delivered by private equity."
The EVCA Handbook of Professional Standards is an annually updated set of guidelines governing the whole industry. It is followed by both private equity managers and their investors and includes standards relating to portfolio companies as well as environmental, social and governance issues.
EVCA Secretary-General Dörte Höppner said: "The Handbook replaced separate codes of conduct for fund managers and investors with a shared set of principles, agreed for the first time by both sides of the partnership. This historic moment has now been followed by George's appointment as the EVCA's first investor Chairman."
Outgoing EVCA Chairman Vincenzo Morelli said: "It's fitting that the occasion of the EVCA's 30th year has been marked by George's appointment - a clear sign that the EVCA represents the whole of European private equity.
"As Chairman over the last year, I have been very pleased with our progress in many vital areas. The EVCA contributed significantly to the debate over the Alternative Investment Fund Managers Directive and its implementation. We were able to work constructively to prepare for the introduction of a more proportionate regulatory regime for venture capital. And the continuing debate over prudential reserve rules for investments by insurance firms and pensions funds will now be led ably by George who, as an investor, represents the group most directly affected by these changes."
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