Industry Guidelines Group takes shape

Following the initial launch in February, a group of 18 private equity professionals have joined forces to establish guidelines for private equity reporting.

A group of private equity industry professionals has expanded its effort to formulate recommendations for standardized valuation and reporting guidelines and named the members for a new standards board.


The Private Equity Industry Guidelines Group, which was formed in February by Marcia Bateson, a managing director at JP Morgan Partners, Steve Beitler, a managing director at Trident Capital, William Franklin, a managing director of Bank of America Capital Corp, and Paul de Klerk of NIB Capital Private Equity, has expanded to include 18 high-profile people from across the spectrum of institutions involved in private equity, including GPs, LPs and service providers. The group is seeking to create formal guidelines for the valuations of companies, disclosing information to limited partners and the public, and other issues affecting the industry.


“This is the first time where both the LP and GP communities have come together to jointly look at reporting issues,” William Franklin, and chairperson of the group, said in the statement. “We hope to deliver a general reporting framework that is embraced by all the parties involved.”


Public and private institutional investors in the group include: Marie Berggren of the University of California Office of the Treasurer of the Regents, Real Desrochers of the California State Teachers’ Retirement System Public Service Office, William Franklin of Bank of America Capital Corp, Edward Mollahan of JP Morgan Chase, and Lawrence Rusoff of General Motors Investment Management.


Investment advisors in the group include Kevin Delbridge of HarbourVest Partners, Mario Giannini of Hamilton Lane Advisors and Barry Gonder of Grove Street Advisors. Buyout firm professionals in the group include: Nick Archer of CVC Capital Partners, Jamie Gates of Texas Pacific Group, Carl Thoma of Thoma Cressey Equity Partners, Howard Weiss of Castle Harlan, and Kenneth Whitney of The Blackstone Group. Venture capital firm professionals include Stephen Holmes of InterWest Partners and Eugene Trainor of New Enterprise Associates.


Jose Sinai of Financial Technologies, a firm that develops private equity reporting software, is also a member of the group.