Publications
& Policy

Invest Europe’s report on benchmarking public and private markets investments analyses the different metrics available for measuring private equity fund performance. It identifies the strengths and weaknesses of the internal rate of return (IRR), multiple of invested capital (MOIC) and public market equivalent (PME).

Invest Europe’s 2019 private equity performance benchmark report measures European private equity returns against relevant stock market indices, as well as private equity funds from North America and the rest of the world on a range of metrics.

Invest Europe provides, for the first time, detailed evidence and analysis of the European private equity and venture capital industry’s contribution to employment, in 2018, and job creation, in 2017-18, in Europe.

Ahead of the Investors' Forum – Virtual, taking place on 13-14 October, Patricia Volhard, Partner at Debevoise & Plimpton LLP, hosted this webinar on new ESG rules.

This presentation (and its appendix) describes the features of and conditions for access to the European Guarantee Fund set up by the European Investment Fund. Please note that this presentation is not legally binding and is for guidance only.

As a precursor to the LP panel at the Investors’ Forum - Virtual, taking place on 13-14 October, Francois Aguerre, Co-head of Origination at Coller Capital, hosted this webinar on the secondaries market and the impact of Covid-19.

In this response we detail to the European Commission increasing concerns Invest Europe members have regarding the loss of protections when investing across border due to the suppression of the BIT system.

This response calls the EBA to introduce targeted changes to some of its technical measures to implement the prudential and remuneration rules that apply to MiFID investment firms (and which could create a precedent in an AIFMD context). Areas on which this response focuses include double-counting of assets when determining the firm’s capital requirements, the staff that is deemed to have a material impact on the firm’s risk profile and alternative arrangements that may be used to pay variable remuneration.

University of North Carolina, University of Virginia, University of Oxford, University of Chicago: "The authors provide an overview of the main accomplishments of private equity since the emergence of leveraged buyouts in the 1980s, and of the challenges now facing the industry."

In this consultation response, we emphasise the importance of respecting the principles of proportionality, materiality and flexibility, and the need to avoid a one-size-fits-all approach. In addition, we urge the European Supervisory Authorities to recognise the lack of available data for non-listed companies, in particular SMEs, and the limited relevance of many proposed indicators given the large diversity of economic sectors invested in by PE/VC funds.

In just a few years, ESG, also known as sustainable or responsible investing, has moved from a slightly idealistic niche to front-page, a mainstream dimension for investors, one that strongly influences the performance and resilience of their investment over time. This is particularly the case in infrastructure, in view of its wide-reaching and long-term consequences for the community. What sets aside this report from other compendiums is the rich variety of examples and illustrations drawn from LTIIA members' collective experience, reflecting their specific challenges, the management practices, and proprietary methodologies they developed to manage and address them.

In this response we explain why ESMA should take into consideration the nature of private equity funds and their characteristics, including the absence of a risk of fire sales, when preparing Guidelines on limits national competent authorities can impose on their use of leverage.

Coronavirus has created huge challenges for learning, and EdTech is offering solutions. London is a major European EdTech hub, and has notable potential for growth.

University of Munich: "We provide the first measurement of knowledge spillovers from venture capital-financed companies onto the patenting activities of other companies."

In this consultation response, Invest Europe has shared the industry's views on the European Commission's Renewed Sustainable Finance Strategy. Particular areas of focus were fiduciary duties, remuneration, financial stability risk, short-termism and due diligence.