The European Private Equity and Venture Capital Association launched its “Handbook of Professional Standards” on 15 November 2012. A press release is here and the Handbook can be accessed here.
“The European Private Equity and Venture Capital Association (EVCA) wants to promote ethical and professional standards within our industry. The EVCA Handbook of Professional Standards brings together the principles of governance, transparency and accountability that are expected of our members.
It is the first time in the history of European private equity that both General Partners (private equity fund managers) and Limited Partners (their investors) have agreed a joint set of values for the industry.
The observance of these standards enables the EVCA to better represent the interests of members to European and international institutions and organisations, investor associations, national governments and investors in the industry worldwide. Bringing together General and Limited Partners helps us speak to these groups with strength and credibility.
By integrating several existing EVCA professional standards documents, the Handbook provides a single source of accessible, practical and clear guidance on the principles that should govern professional relationships between private equity firms, their investors and the companies in which they invest.
In addition to the Code of Conduct, which is mandatory for all EVCA members, the Handbook includes some commentary which can be helpful in the application and interpretation of the Code, as well as a substantial Q&A section, to provide practical examples of real-life situations and to demonstrate how the Code and its principles should be applied.
The final version of the EVCA Handbook of Professional Standards also includes the new IPEV Investor Reporting Guidelines, as well as the revised IPEV Valuation Guidelines (latest iteration already integrated in the current version).”
See also: Guidelines Monitoring Group report on good practice reporting by private equity portfolio companies
