PERG Reports

2017 PERG Reports

The Private Equity Reporting Group (PERG), the body established to review the private equity industry’s conformity with the Walker Guidelines has published its tenth annual report on disclosure and transparency in private equity. Each year, a sample of approximately a third of portfolio companies that fall within the scope of the Guidelines are reviewed for compliance with the disclosure requirements. In 2017, compliance fell to 79%, against 86% the previous year. The PERG acknowledges that within the sample reviewed, all BVCA members and their portfolio companies are compliant with the Guidelines or have provided appropriate explanations. Non-compliance is unfortunately driven by non-BVCA members.


2016 PERG Reports

The Private Equity Reporting Group (PERG), the body established to review the private equity industry’s conformity with the Walker Guidelines has published its annual report on disclosure and transparency in private equity. Compliance by portfolio companies covered by the Guidelines has reduced slightly again this year to 88% (2015: 95%). However, only 57% of the portfolio companies reviewed have achieved an overall good or excellent level of quality of disclosure, whereas 95% achieved this level in 2015. This decrease in standards was primarily due to a backdrop of higher standards seen in the FTSE 350, the benchmark for judging compliance.

In the current environment, with an increased emphasis on the transparency and conduct of the largest privately-held businesses in the UK, the private equity industry must increase its efforts to improve the quality of reporting in 2017.


2015 PERG Reports


2014 PERG Reports


2013 PERG Reports


2012 PERG Reports


2011 PERG Reports


2010 PERG Reports