DGAP-News: IPEV Board Releases Draft Investor Reporting Guidelines

IPEV Group

04.04.2012 09:00
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BRUSSELS, Belgium, 2012-04-04 09:00 CEST (GLOBE NEWSWIRE) —
The International Private Equity and Venture Capital Valuation Guidelines Board
(IPEV Board) today released Draft Investor Reporting Guidelines (IRG) for
Private Equity and Venture Capital Funds. The IRG are a globally applicable set
of disclosure principles and practices designed to provide guidance to General
Partners as they report information to their Limited Partners with greater
transparency, consistency and comparability. A complete draft of the IRG may be
viewed at www.privateequityvaluation.com.

Created in 2005, the Board plays a monitoring role and gives guidance on the
application of Fair Value in the Private Equity and Venture Capital Industry.
At the request of the European Private Equity and Venture Capital Association
(EVCA), the Board took on the role of updating the EVCA Reporting Guidelines.
The Draft IPEV IRG are the culmination of almost two years of extensive review
and collaboration. The IPEV Board is seeking comments from LP–s, GP–s and other
industry participants on the Draft IRG to further enhance best practice and
global acceptance.

–I am pleased that we have produced draft Investor Reporting Guidelines that
will provide greater consistency and transparency,– said Emile Van Der Burg,
newly elected Chairperson of the IPEV Board, Senior Advisor to DB Private
Equity and Board Member of GIMV. –These Draft Guidelines demonstrate the strong
collaboration of GPs, LPs and service providers in furthering best practice for
the Private Equity and Venture Capital Industry.–

The IPEV IRG focus on information important to investors which may not be
included in GAAP or Statutory Financial Statements.

–The Draft IPEV Investor Reporting Guidelines provide essential disclosure
principles, yet they allow for flexibility in how information is reported,–
said David Larsen, IPEV Board Member and Managing Director at financial
advisory and investment banking firm Duff&Phelps. –Because funds differ in
their structure and focus, reporting guidelines must accommodate differences
among funds while ensuring comparability of critical information.–

Notes to Editors:

The Draft IPEV Investor Reporting Guidelines are being released for industry
comment. The IPEV IRG address the need for reporting beyond requirements of
financial reporting, taking into account the need for flexibility among various
types of funds and fund managers. The IPEV IRG have been drafted with
significant input from LPs, GPs, and service providers.

The International Private Equity and Venture Capital Valuation Guidelines were
updated in August 2010 to address the need for greater comparability across the
private equity and venture capital industry and for consistency with IFRS and
US GAAP accounting principles. The IPEV Investor Reporting Guidelines are a
further step in improving comparability and consistency in investor reporting
for the Private Equity and Venture Capital Industry.

In October 2005, IPEV was created as an independent body and charged with
maintaining, promoting, monitoring, and updating the Valuation Guidelines, as
well as providing guidance on the application of the Guidelines to all
worldwide stakeholders in the Private Equity and venture Capital
industry–assisting practitioners, investors, regulators and auditors. More
information can be found on the IPEV website at www.privateequityvaluation.com.

The private equity and venture capital associations supporting IPEV include:

AFIC – Association Francaise des Investisseurs en Capital

AIFI – Italian Private Equity and Venture Capital Association

AMEXCAP – Mexican Private Equity Association

AMIC – Moroccan Private Equity and Venture Capital Association

APCRI – Portuguese Private Equity and Venture Capital Association

ASCRI – Spanish Private Equity and Venture Capital Association

ATIC – Tunisian Venture Capital Association

AVCA – African Venture Capital Association

AVCAL – Australian Private Equity and Venture Capital Association

AVCO – Austrian Private Equity and Venture Capital Organization

BVA – Belgian Venturing Association

BVCA – British Venture Capital Association

BVK – German Private Equity and Venture Capital Association e.V.

CVCA – Canada–s Venture Capital and Private Equity Association

CVCA – China Venture Capital Association

CVCA – Czech Venture Capital and Private Equity Association

DVCA – Danish Venture Capital Association

EMPEA – Emerging Markets Private Equity Association

EVCA – European Private Equity and Venture Capital Association

FVCA – Finnish Venture Capital Association

HKVCA – Hong Kong Venture Capital Association

HVCA – Hungarian Venture Capital and Private Equity Association

ILPA – Institutional Limited Partners Association

IVCA – Irish Venture Capital Association

LAVCA – Latin American Venture Capital Association

LPEq – Listed Private Equity

LVCA – Latvian Venture Capital Association

MENA Private Equity Association

NVCA – Norwegian Venture Capital&Private Equity Association

NVP – Nederlandse Vereniging van Participatiemaatschappijen (Dutch Private
Equity and Venture Capital Association)

NZVCA – New Zealand Private Equity and Venture Capital Association

PPEA – Polish Private Equity Association

Reseau Capital – Quebec Venture Capital and Private Equity Association

RVCA – Russian Private Equity and Venture Capital Association

SAVCA – Southern African Venture Capital and Private Equity Association

SECA – Swiss Private Equity and Corporate Finance Association

SLOVCA – Slovak Venture Capital Association

SVCA – Singapore Venture Capital and Private Equity Association

SVCA – Swedish Private Equity and Venture Capital Association

CONTACT: For comments, please contact:
Stephen Kempen (Apax Partners) – Europe
email: Stephen.kempen@apax.com
or
David Larsen (Duff&Phelps) – US, Tel: (001) 415 693 5330
email: david.larsen@duffandphelps.com

For further information, please contact:
Didier Guennoc, IPEV Secretary
Tel: +32 486 62 99 78
email: didier.guennoc@ldspartners.com
News Source: NASDAQ OMX

04.04.2012 Dissemination of a Corporate News, transmitted by DGAP –
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Language: English
Company: IPEV Group

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