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NAPF says more accountability needed for private equity industry

The National Association of Pension Funds is calling for more accountability in the private equity industry to encourage pension schemes to invest in the sector.

The NAPF proposals come in response to the Walker Working Group consultation report which was established in March this year by the British Private Equity and Venture Capital Association with the aim of forming a voluntary code for the private equity industry.

The NAPF believes that overall the consultation proposes a sensible approach to achieving greater disclosure and transparency in the private equity industry.

The NAPF says this would provide significant benefits to investors, including pension schemes but it believes that more can be done.

NAPF head of corporate governance David Paterson says: “Overall, the approach of the Walker Group is sensible as it will inject extra transparency and accountability into private equity.

“However, pension schemes looking to invest in private equity would benefit from better information and agreed reporting standards to reassure themselves that they are investing their members’ money in the best possible place.

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

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