The association has more than 100 members who are investors into private equity, known as ‘limited partners’. George’s selection as Chairman shows how vital it is to the EVCA to represent all industry participants.
George succeeded Vincenzo Morelli at the EVCA 30th Anniversary Symposium at the end of last week and wasted no time in setting out his goals for the coming 12 months.
He said he would promote the EVCA Handbook of Professional Standards as the industry’s license to operate. The Handbook is an annually updated set of professional guidelines agreed by both private equity managers and their investors. It includes standards relating to portfolio companies as well as environmental, social and governance issues.
Pension funds and insurers are major investors in private equity. Unfortunately there is a risk that some draft European regulation for investors could make it difficult for long-term investment vehicles such as private equity funds.
George said: “Private equity fund managers become regulated by the EU this year and have gained recognition as essential drivers of growth through their active investments in European companies. The spotlight now turns to private equity’s investors and how regulatory change will impact them.
“I also aim to bring home the message to policymakers that as well as driving increased innovation, productivity and competitiveness in thousands of European companies, millions of Europe’s pensioners and savers are benefitting from the returns delivered by private equity.”