FOIA and disclosure: media hype or genuine concern?

On 1 January 2005, the UK’s Freedom of Information Act that was originally passed in 2000 came into full effect. Immediately it has opened up the disclosure debate amongst practitioners in the private equity industry. Arguments abound as to the implications of the Act and whether or not it will have a positive influence on the asset class. Both GPs and LPs are divided as to how developments arising from the Act are likely to shape the very future of the industry. It may be some time before anyone truly knows the Act’s full effect, but it hasn’t stopped the chins from wagging.