Industry Bulletin
The latest industry developments with links to related 3rd party resources.
Resources
Draft EU Alternative Investment Fund Managers DirectiveSince 2009, the European Union has been considering a Directive to regulate Alternative Investment Fund Managers (AIFMs), including private equity fund managers and investors who invest in such funds. EMPEA has been particularly concerned about third-party provisions that could greatly restrict or make it much more difficult for AIFMs based in emerging markets to raise capital in the EU, and for EU investors to invest in non-EU funds. This site provides background on the Directive and EMPEA's response.
Development Finance Institutions Endorse ILPA Private Equity PrinciplesSeveral global development finance institutions (DFIs) that actively invest in emerging markets private equity have publically endorsed the Institutional Limited Partners Association's (ILPA) Private Equity Principles, a set of voluntary guidelines intended to establish best practices relating to the alignment of interests between general partners and limited partners around fund terms and issues of fund governance, transparency and reporting.
EMPEA convened a roundtable of diverse private equity constituents to discuss the objectives of the Principles, the challenges and benefits they may introduce to LP-GP relationships, and the overall impact on alignment of interests.