Publications
& Policy

EuropeanIssuers, the European Banking Federation and Invest Europe join forces to kindly request the European Commission an extension of the deadline for the consultation on the EU Listing Act, in line with the delays that have been approved for other CMU files. This would allow the industry to delivery a more thorough and data-driven response.

LPeC's latest publication looks back at 2021, a year when listed private capital proved its resilience. Looking forward, LPeC firms also give their individual perspectives and showcase the variety of opportunity this asset class can offer investors.

Invest Europe has provided input to the IPEV Board ahead of the upcoming review of IPEV Valuation Guidelines. In particular, we provide suggestions for how to incorporate ESG in the Guidelines.

Invest Europe provided feedback to the International Accounting Standards Board on the Post-implementation Review of IFRS 9 – Classification and Measurement.

In this report, we look at Capital Under Management and Dry Powder across private equity segments, from Buyouts to Generalist funds, and Growth capital to Venture Capital.

Stanford Law School; European Corporate Governance Institute (ECGI), New York University School of Law: "Special Purpose Acquisition Companies (SPACs)—touted as a better alternative to an IPO for taking a company public—have become the next big thing in the securities markets. This Article analyzes the structure of SPACs and the costs embedded in that structure."

In this latest letter to ESMA, Invest Europe expresses the industry’s outstanding concerns and uncertainties about the application of the SFDR/Taxonomy Regulation, and proposes some tailored, PE/VC specific questions and answers in light of the SFDR Q&A the European Supervisory Authorities are developing.

The review represents a real opportunity to make the ELTIF more attractive to closed-ended fund managers such as our members who are keen to market their funds to non-professional investors. In this paper Invest Europe suggests targeted changes to the text, including amendments to make it easier for fund-of-funds to become ELTIFs

In this paper the European private equity industry welcomed the comprehensive evaluation undertaken by the European Commission and wholeheartedly agrees with its conclusion that the AIFMD is working well, and that the review should focus on targeted improvements. It also suggests changes to delegation and reporting requirements for these to maintain strong standards on financial stability and investor protection while not impacting the ability of private equity firms to support businesses.

Brand new analysis of Venture Capital and Private Equity statistics, looking at the transaction value of investments into European companies.

BJM: How diversity among lead partner teams (LPTs) of private equity (PE) funds affects buyout performance.

"In a joint survey with Bain & Company, we heard from more than 100 limited partner organizations about how they’re approaching ESG criteria."

"Representing approximately €220 billion in capital, the team analyzed 29 key LPA terms and conditions from 80+ European buyout funds and 35+ venture capital funds raised in the last 15 months. The funds were all either specifically focused on Europe or had Europe as a core geography in their investment strategy."

Gallagher looks back at 2021 in this survey which covers: holding periods; geographical changes; sector changes; ESG; and managing risk.

Journal of investment management: Analysis of PE transparency in the US before and after the implementation of the ASC 820.