Publications
& Policy

Solvency II, officially known as Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance, entered into force on 1st January 2016. It sets out management and supervisory rules for insurance companies.  

"Private equity co-investment funds present a number of attractive performance and risk characteristics. This empirical study explores their outperformance and risk mitigation versus single-manager primary private equity funds."

In 2019, the number of private equity transactions in Europe remained at a very high level. Private equity (PE) is moving from boom to normality, because it generally meets investors' expectations. One of the consequences is an increasingly fierce competition for the most attractive deals. The latest "Private Equity Trend Report 2020" by the auditing and consulting firm PricewaterhouseCoopers (PwC) analyses the most important industry developments in the European PE market. 250 European financial investors took part in our survey.

Pantheon: Is a Private Equity manager’s track record a good indicator of future performance? This central question confronts investors every day, and is all the more important in light of the large dispersion in historical returns between top and bottom quartile funds.

In this response we argue for a more appropriate interpretation of the risk of long-term equity investments, taking into their specificities and the role fund diversification plays in limiting the exposure of the insurers to the funds' underlying investments.

In this response we reiterated our general concerns with the scope of the Key Information Document Regulation (e.g. inclusion of sophisticated investors) and described the specificities of private equity (in particular on cost disclosure)

At the core of every business either owned by or being evaluated by Private Equity is technology. Yet many in the Private Equity world don't have a grasp on the magnitude of impact that technology can have on their investments. The Private Equity Technology Podcast will explore the inner workings of the technology applications and people running your potential acquisitions or portfolio companies, providing you another lever to pull as you look to maximize returns

The Private Equity PErspectives podcast serves as a forum for private equity dealmakers to discuss navigating today’s dynamic investment environment, while preparing for challenges and opportunities on the horizon. In each episode, BDO’s Private Equity practice connects with leaders in the industry to talk deal activity, fund strategies, and portfolio company optimization. 

Atomico's review of the European Tech

Bain & Company's review of the Private Equity Market over 2019.

The Argos Index® is an important benchmark for valuing unlisted European companies and is based on very reliable data.

In this response, we detailed why the current treatment of "investments in private equity" and "investments in venture capital firms" as high risk exposures is inappropriate and how the future banking framework could better take into account the specificities of investments in unlisted equity funds.

AQR: Investors may be willing to pay a higher price and a lower expected return in exchange for illiquidity

“The VC Factor” is the first large-scale study of VC-backed start-ups located in the EU. A joint effort of the EIF and Invest Europe, the research looks at about 9,000 firms invested in 2007-15 and analyses their characteristics as well as their post-investment performance.