UK lobby group promotes GP, LP relations

The British Private Equity and Venture Capital Association (BVCA) is creating a body to ‘enhance’ understanding between investment firms and their investors.

The British Private Equity and Venture Capital Association (BVCA) has set up a group to enhance relations between GPs and LPs.

The London-based association said it had created an LP advisory board group consisting of nine heavyweight participants.

Members of the body include a number of significant investors in real estate as well as mainstream private equity, including the charity, The Wellcome Trust, British Airways Pension Investment Management and the BP Pension Fund.            

In a statement, BVCA said it would work to “identify common interests” between members of the wider investment community, and would look to establish an “effective feedback loop” between the LP and GP communities.

Robert Coke, head of absolute returns and buyout at the Wellcome Trust, is to chair the board.

Other members of the BVCA advisory board are: George Anson, managing director of HarbourVest; William Gilmore, head of private equity at Scottish Widows Investment Partnership; Simon Jamieson, director of FF&P Asset Management; Khaled Khouri, director of private equities at the Abu Dhabi Investment Authority; Spencer Miller, managing director of OPTrust Private Markets Group, and Philip Rotheram, senior vice president at the Kuwait Investment Office.
Coke said: “LPs currently find themselves more involved than usual in helping the industry resolve issues. This initiative is welcome recognition by the BVCA of the importance of the views of the LPs, the capital providers for the industry.”

David Williams, chairman of the BVCA’s investor relations committee, added: “The creation of the LP advisory board adds a crucial voice to the BVCA – that of the investor.”