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Private Equity and Venture Capital Association Adopts Code of Conduct - International Law Office

International Law Office

Corporate Finance/M&A - Netherlands

Private Equity and Venture Capital Association Adopts Code of Conduct

August 29 2007

On June 4 2007 the Dutch Private Equity and Venture Capital Association adopted a new code of conduct for associated private equity firms.

The new code aims to enhance transparency with regard to the operating methods of private equity firms and encourage professionalism in the private equity sector as a whole. The code complements existing legislation on non-stock exchange listed firms. It aims to provide insight into (i) the operating methods of the members of the association, and (ii) the kinds of agreements used by the association in its relationships with investors and the parties involved in equity participation.

The code contains provisions on how members must provide clarification of their plans and objectives with regard to investors, management, supervisory boards and other parties involved. The code also describes how members should take into account the interests and responsibilities of other interested parties when investing or planning to invest in a Dutch company.

A copy of the code may be found on the association's website at www.nvp.nl. The private equity sector has always been less transparent than the stock exchange sector, as it concerns private companies. It is hoped that the new code of conduct will contribute to the public knowledge of the private equity sector.

For further information on this topic please contact Lous Vervuurt at Bird & Bird by telephone (+31 70 353 8800) or by fax (+31 70 353 8811) or by email (lous.vervuurt@twobirds.com).

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