Professional Investment Standards in the Private Equity Sector: Selected Aspects

Main Article Content

Olga Mikołajczyk

Abstract

Investments made by private equity funds must abide by the highest ethical standards as the framework within which their stakeholders operate is very much based on broadly understood trust. The paper discusses selected professional standards especially important for private equity transactions. It is based on the Professional Standards Handbook, a set of principles focusing on integrity and acting with fairness, keeping one’s promises, disclosing conflicts of interest, maintaining confidentiality, and promoting best practices for the benefit of sustainable investment and value creation. We also address the ESG issues which – besides financial aspects – exert substantial impact upon sustainable development of the private equity market. Ethical standards have gained in importance especially with the adoption of the AIFM Directive designed to regulate the operations of alternative
investment funds.

Downloads

Download data is not yet available.

Article Details

How to Cite
Mikołajczyk, O. (2019). Professional Investment Standards in the Private Equity Sector: Selected Aspects. Journal of Management and Financial Sciences, (30), 67–76. https://doi.org/10.33119/JMFS.2017.30.4
Section
Articles

References

1. Crifo P., Forget V. D., Teyssier S., The price of environmental, social and governance practice disclosure: an experiment with professional private equity investors, “Journal of Corporate Finance”, Vol. 30, February 2015.
2. Directive of the European Parliament and of the Council No. 2011/61/EU of 8 June 2011 on Alternative Investment Fund Managers.
3. Environmental, Social and Corporate Governance Disclosure Framework for Private Equity, 2013.
4. Garbicz M., Staniek Z., Mikroekonomia. Problemy zawodności rynku, Wydawnictwo Wyższej Szkoły Menedżerskiej w Warszawie, Warszawa 2010.
5. Integrating ESG in private equity, a Guide for General Partners, Principles for Responsible Investment; ESG Considerations for Private Equity Firms, PricewaterhouseCoopers 2015.
6. Kowalska A, Koellner T., Miliardy za ASI, Puls Biznesu, 06.11.2017.
7. Professional Standards Handbook, The Voice of Private Equity, Invest Europe, November 2015.
8. Roszkowska P., Business ethics. Evidence from the world of finance, SGH Publishing House, Warszawa 2015.
9. Sieczka K., Fundusze inwestycyjne zamknięte w Polsce – przewidywane skutki zmian w legislacji, www.prawobiznesu.com (accessed on 12. 11. 2017).
10. Sroka R. (Ed.), Raportowanie danych niefinansowych ESG, a odpowiedzialne inwestowanie, Stowarzyszenie Emitentów Giełdowych, Warszawa 2014.
11. Staniek Z., Ekonomia instytucjonalna. Difin, Warszawa 2017.