Invest Europe produces Solvency II reporting template for private equity

Invest Europe has produced a dedicated template to help private equity fund managers provide data to their insurance investors under the new Solvency II reporting requirements.

Solvency II is a prudential regulation for the insurance industry in the European Union that came into effect on 1 January 2016. It provides a risk measurement framework for defining capital requirements for insurance companies. The new template is intended to help private equity fund managers to report the data to their insurance investors, who currently represent more than 10% of the over €44bn investment into European private equity.

Invest Europe’s template is based on a standardised template created for the new regulation by the Club AMPÈRE think tank, sponsored by the French Asset Management Association, the German Investment Funds Association (BVI) and the UK’s Investment Management Association. The adapted version has been produced by Invest Europe’s Investor Regulation Working Group, chaired by Felix Haldner, Partner and Head of Investment Structures at Partners Group. It addresses only those issues relevant to the private equity industry and will be available to Invest Europe’s members from today via its website.

“Invest Europe has developed a tailored version of the Solvency II reporting template to ensure all of the data fields are applicable to closed-ended private equity funds, following feedback from our Investor Regulation Working Group,” said Michael Collins, Invest Europe’s Deputy Chief Executive and Director of Public Affairs.

“We’re sure our fund manager and insurance company members across Europe will find this a clear, useful and straightforward tool to help them comply with this new regulation.”

The document also contains an example of a completed template for a direct private equity fund to provide further clarity about the type of information that should be reported under different data points.

Invest Europe – formerly called the European Private Equity and Venture Capital Association (EVCA) – is the trade association representing European private equity, venture capital and infrastructure funds and their global investors. Members can access the Solvency II Reporting Template via the policy section of Invest Europe’s website.