Calls made for greater transparency in private equity

News Article - 22 October 2007
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The National Association of Pension Funds (NAPF) has called for a higher level of "accountability" within the private equity industry.

Responding to the Walker Working Group Consultation's proposals aimed at developing greater disclosure and transparency within the sector, the association said the plans were "sensible".

However, David Paterson, head of corporate governance at the NAPF, said that better information and reporting standards would "reassure" pension schemes looking to invest in private equity.

"If the Walker Group Review can meet the concerns of the pensions industry, then more pension schemes may look to invest in this marketplace," he remarked.

The NAPF stated that it agreed with the UK Investment Performance Committee's suggestion that the industry adopts Global Investment Performance Standards, claiming that such a move would be of benefit to both funds and investors.

Sir David Walker, leader of the review, announced earlier in the month that the group would be publishing proposed guidelines on November 20th 2007.

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