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In this response Invest Europe has expressed its support for the work of the High Level Expert Group, highlighting the important role that private equity can play in the achievement of the EU’s goals on sustainable finance and development. In addition, we emphasised the need to take account of existing international classification systems, labels and standards and expressed our concerns about the implications this work-stream may have on certain parts of financial services legislation.

This consultation response details what additional actions Invest Europe would like the Commission to take to improve the state of European capital markets. The main focus is put on the improvement of the existing passporting framework (whether through the EuVECA review or limitations to existing fees and charges) and ways to allow an easier access to the asset class for institutional and sophisticated investors.

In this response to DG Justice, Invest Europe welcomes and supports the European Commission’s priority to foster sustainable investments. The document flags the long-term nature of private equity investments and underlines the principles the members of the association have set in the Professional Standards Handbook to promote highest ethical and professional standards within the industry.

Drawing on lessons from the provision of water in England, the paper anticipates future developments in the provision of health, exploring the increasing role of finance and financial cultures.

This PAE Response assesses, at the request of the Commission, the combined impact of legislation on our industry and details the situation where existing rules may have a detrimental impact on private equity, venture capital and infrastructure funds without necessarily achieving their proposed objectives. Among the examples given are the absence of a passport for sub-threshold funds and the regulatory treatment of semi-professional investors.

The EVCA responded on behalf of the PAE to the European Commission consultation on the development of a Capital Markets Union over the next five years. The response contains the EVCA position on various issues such as AIFMD, EuVECA, institutional investors' legislation (Solvency II, IORP, Banking Structure), private placement regimes, ELTIFs, taxation, company law, role of the supervisory authorities and the idea of a venture capital fund-of-funds.

The objective of the Capital Markets Union (CMU), the Financial Services Commissioner's Flagship Initiative, is to reduce Europe’s reliance on bank lending in order to drive investment and growth. The aim in the short term is to unlock the availability of credit and, in the longer term, to support a more diverse, competitive and free-flowing financial system. The Green Paper launches a Consultation.

The Environmental, Social and Corporate Governance (ESG) Disclosure Framework for Private Equity helps managers report ESG-related information to their investors. Invest Europe supported the development of the Framework, alongside more than 20 Private Equity Associations, 10 private equity firms and 40 investors in private equity from 11 countries.