Leading international buyout firm, Cinven, today announces the publication of its first annual review. The business review forms part of Cinven’s response to the Guidelines for Disclosure and Transparency in Private Equity published by the Walker Working Group in November 2007.
As well as containing detailed information about Cinven’s investment strategy, its people and investments in the UK and Europe, the annual review also lists all Cinven’s acquisitions, realisations and re-financings during 2007, and contains value creation case studies.
Cinven participated in the Walker Working Group and has complied fully with the Guidelines. Cinven is working with all UK and non-UK portfolio companies to formalise the review of additional information on each company.
Those UK portfolio companies that fall within the categories specified by the Guidelines will be disclosing additional information in their annual reports as required. Some of Cinven’s portfolio companies, including Gala Coral and Phadia, have already published annual reports.
Robin Hall, managing partner at Cinven, said today:
“Today Cinven is taking a major step by publishing its first ever annual review, which builds on our tradition of honesty and transparency. In publishing the review, we are reaffirming our commitment to open communication with all our stakeholders. “We believe that a responsible approach towards the companies we own, their employees, suppliers and local communities, the environment and society as a whole, is an essential part of our success. “We welcome Sir David Walker’s guidelines, which we believe will contribute to a healthy public debate about the social and economic impact of buyouts. Cinven has gone beyond the recommendations, which only makes requirements on UK companies, as we are working with all our companies to produce their own annual reports.”