Survey on access to sophisticated and retail investors |
A significant proportion of private equity fundraising comes from investors that are not considered “institutional” (i.e.: that are neither pension funds, insurers, banks or soveriegn wealth funds). High net worth individuals represent a significant source of capital, in particular in the venture end of the market. However these investors continue to be treated as retail ones under EU law and, despite their level of sophistication, are subject to additional requirements designed to protect based on its perceived level of inexperience.
Meanwhile, the last few years have seen an increased interest globally towards opening the marketing of private equity funds beyond sophisticated investors. Recent regulatory changes in various jurisdictions have also enhanced private equity managers’ ability to access retail savings – either by lifting restrictions or by offering tax incentives to retail investments on equity markets.
At EU level, the opening of capital markets to retail investors is one of the key workstreams of the Capital Markets Union, with expected suggestions to revise the ELTIF framework and impulsions towards the creation of a new category of semi-professional investors in MiFID. The Commission will also adopt in Q4 2021 a retail strategy “that puts the [retail] investor at the heart of its policies”
In that context, Invest Europe would like to invite you to fill out a survey where you can describe your appetite to market to non-institutional investors of all sorts in order to help determine what actions it should take in this field in the coming months and years.
Meanwhile, the last few years have seen an increased interest globally towards opening the marketing of private equity funds beyond sophisticated investors. Recent regulatory changes in various jurisdictions have also enhanced private equity managers’ ability to access retail savings – either by lifting restrictions or by offering tax incentives to retail investments on equity markets.
At EU level, the opening of capital markets to retail investors is one of the key workstreams of the Capital Markets Union, with expected suggestions to revise the ELTIF framework and impulsions towards the creation of a new category of semi-professional investors in MiFID. The Commission will also adopt in Q4 2021 a retail strategy “that puts the [retail] investor at the heart of its policies”
In that context, Invest Europe would like to invite you to fill out a survey where you can describe your appetite to market to non-institutional investors of all sorts in order to help determine what actions it should take in this field in the coming months and years.