Research reveals mixed verdict on Walker Report

A new study conducted by business and financial adviser Grant Thornton has revealed a mixed response from UK private equity professionals to the Walker Report guidelines. While the survey of 100 executives found that a majority, 68%, believed the industry was more transparent, only 46% of respondents felt that there was actually a greater understanding of private equity since the report was published. In addition, just 27% believed that the industry is now viewed more favourably, with 9% even suggesting that there was now a more negative perception in the market.

On the plus side, respondents displayed a general expectation that the proposals, although targeted predominantly at the large buyout houses, would help to create best practice throughout the industry. However, there was also strong evidence that the report is yet to have a substantial impact on ethical standards. Only 27% of executives stated that their firms now offered a formal ethics code, up from 24% prior to the report's publication, while 64% said there was an informal ethics code, down from 66%.

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