Private Equity: UK Guidelines Monitoring Group Publishes Guidance on Good Practice Reporting by Portfolio Companies

Summary: On 6 June 2011, the UK Guidelines Monitoring Group (“GMG”), the body set up to monitor the performance of private equity firms and their portfolio companies against the guidelines for disclosure and transparency in private equity produced by Sir David Walker in November 2007 (“Walker Guidelines”), produced guidance (the “Guidance”) to assist private equity owned portfolio companies in complying with the Walker Guidelines. The attached Client Alert reviews the Guidance, which sets out the basic compliance requirements and good practice examples taken from actual company disclosures.