The Spanish Venture Capital & Private Equity Association (ASCRI) and law firm Cuatrecasas have launched a handbook of ‘Good practice guidelines for investors and private equity entities in Spain’.
Miguel Zurita, ASCRI chair, says: “In the sector’s current process of expansion and incorporation of new investors, we thought it would be useful to prepare this handbook of good practices, with the immediate goal of facilitating dialogue between fund managers and investors. We are an industry with the combination of all our parties’ interests at our core, and this document is intended to provide guidelines so they can organise their relationships constructively and take into account all the necessary elements to maintain a long-term alignment.”
The handbook is aimed at ensuring that the Spanish private equity sector complies with the best practices and regulations already established elsewhere in Europe, and to foster a good relationship between fund managers and investors based on ‘trust, transparency and the balance of interests’.
Rafael Fontana, Senior Partner at Cuatrecasas, says: “Publishing the good practices guidelines is a milestone for our country’s private equity industry and shows it is a mature sector that has practically and constructively included the bases for negotiation between investors and fund managers in this document, aligning the interests of both sides and promoting transparency for investors.”
