Culture change for the private equity industry?

John Mackie, chief executive of the British Venture Capital Association, expects greater disclosure from the private equity industry. Graeme White, head of Barclays Private Equity, said: “With investors in the US already disclosing performance information, it is difficult to see why fund managers should not be prepared to disclose fund returns publicly across the board, not just in relation to local authorities.”

Information on the returns generated has always been restricted to fund investors until now. Under the new Freedom of Information Act, the fund investors will come under pressure to report profits publicly. The industry has traditionally restricted this information to its clients.

Lift lid on performance, says venture capital chief (Sunday Times, 30 January 2005)