GERMANY - German secretary of finance points to changes in law

Speaking at the BVK's eighth private equity convention, Joachim Würmeling set out the German government's intent to improve the country's legal framework for private equity funds. The secretary to the German ministry of finance said 'As announced in the coalition agreement, we plan to transform the current Gesetz über Unternehmensbeteiligungsgesellschaften (UBGG) into a private equity law. Germany needs to become a more attractive destination for new funds.'