Pan-European structures for Private Equity Venture Capital（一）.pptVIP

Pan-European structures for Private Equity Venture Capital Georges No?l EVCA Director of Research, Public Affairs Development Avco Investorenkonferenz, Vienna June 23rd, 2004 Agenda Overview of EVCA EVCA Strategic Priorities The Changing Environment for PE/VC Investment Styles Evolution of the Asset Class Overview of European Private Equity Funds EVCA Public Policy and Research Activities EVCA 931 members 132 Institutional Investors or Funds of Funds 29 National Associations (NVCA’s) €140 bn invested (equity value) Ca. 40.000 investee companies Over 4m people employed 7 Committees Over 130 members actively involved in Board, Executive, Committees, Task Forces, Working groups… EVCA Strategic Priorities Maintain a strong and relevant community of shared interest for European PE and VC players to strenghten the industry across Europe (Research, Conferences) Actively raise awareness to improve knowledge and understanding of the European PE and VC industry (Investor Relations, Training, Publications) Reinforce and develop professional standards for the industry (Guidelines Best Practices) Protect the interests of the industry through a pro-active dialogue with policymakers and stakeholders to promote a favourable environment for European PE/VC and entrepreneurship (Public Affairs, Communications) Changing Environment for PE/VC Market Outlook Activity levels fund raising for PE and VC Institutionalization, Value creation model Consolidation Generational change Asset class coming of age Regulation IFRS 27, Basel-II, Single Fund Structure, Merger Regulation, Pension Fund Directive Implementation, Review of Financial Services Action Plan… Changing Environment for PE/VC Private Equity is becoming a mainstream asset class with new Limited Partner’s entering and existing investors increasing asset allocations Academic approach - TU München Investment styles Through Direct Investments Through a PE Fund Through a Fund of Funds Three ways of investing in unquote