Publications
& Policy

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. 

CAIA Association: As we enter a new decade, rife with a global pandemic, the most violent bear market in history, and unprecedented uncertainty, alternative investments continue to be a polarizing topic. Yet, further growth in alternatives is expected.

Atomico's review of the European Tech

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.

Invest Europe, on behalf of the PAE and in conjunction with a global group of PE/VC associations, has responded to the OECD's consultation on the Global Anti-Base Erosion Proposal (“GloBE”) (Pillar Two).

In this response, we expressed concerns with the imposition, as part of the Market Abuse Regulation review, of overly cumbersome administrative and reporting requirements on infrequent recipients of market soundings such as private equity firms.

The EuVECA voluntary passport is becoming more and more popular for venture capital fund managers, most of whom operate below the required threshold for AIFMD compliance. 

The Markets in Financial Instruments Regulation (MiFIR) and Directive (MiFID II), referred to in this Guide as “MiFID”, are in force since January 2018.

The idea of introducing a European Financial Transaction Tax (FTT) became popular in the aftermath of the 2008 financial crisis. However, a formal proposal in 2011 for a pan-European FTT failed to get unanimous backing from EU countries. Eleven member states decided to continue discussions on the project, although progress has been very slow. A new Franco-German push did generate headlines and new political momentum behind the European FTT plan in 2019.