UK - Kolade tells conference it's time to separate fact from fairytale

Wol Kolade, chairman of the BVCA, today called on the private equity industry to fight back against the myths that surround it. Speaking at the Capital Creation conference in Monte Carlo, he said it was time to ‘separate the facts and figures from the fairytales’ in order to ‘tell people why the private equity industry is a great success story, and why it is vital to the British and wider European economy that it should be allowed to continue without the fetters of a restrictive regulatory regime’. As well as warning that the industry as a whole would have to be more open to the media and the public, Kolade commented on the recent market uncertainty. ‘What has happened in the financial sector in the past couple of weeks,' he said, is a reminder that 'private equity’s pre-eminent position cannot be taken for granted. Our crucial role in driving the dynamism of the British and wider European economy could be quickly undermined by changes to the fiscal regime.’