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Invest Europe calls for more pension fund investments into PE/VC/infrastructure

Press releases Regulatory guidance Fund raising Investment Infrastructure investment

28 Aug 2025

Invest Europe responded to the European Commission targeted consultation on supplementary pensions, calling for the removal of restrictions to pension funds’ investments in our asset class. This response is part of a general charge against EU rules that prevent the ability of our members to raise funds from institutional investors.

We argue that there is a natural alignment between the long-term liabilities of pension funds and the long-term outlook of unlisted funds – making pension funds the best placed to be investors in EU businesses through these funds.

Far from being discouraged to invest in long-term unlisted assets, by restricting pension funds to investing predominantly on regulated markets, pension funds should be encouraged to do so.

We suggest that the prudent person principle under Article 19 should not be interpreted in a way that discourages or indirectly restricts investments in long-term assets that contribute to innovation and economic growth.

This review is a crucial opportunity to shift away from a public markets-only mindset and build a pension framework that works for both savers and Europe’s innovative economy.

Click to download our full response here.