GERMANY - BVK elects new executive board and agrees code of conduct

The executive board was joined by Matthias Kues of NORD Holding, Dr Andreas Rodin of P+P Pöllath + Partners, Dr Gerd-Rüdiger Steffen of Mittelständische Beteiligungsgesellschaft Schleswig-Holstein, and Dr Helmut Vorndran of Ventizz Capital Partners. Kurt Müller of Target Partners GmbH, Dr Günther Niethammer of Odewald & Compagnie, and Dr Hanns Ostmeier and Dr Peter Terhart of S-REFIT AG were confirmed in their positions.

Dr Peter Terhart was elected as new chairman and replaces Rolf Christof Dienst of Wellington Partners, who had held the position since 2007. Dr Hanns Ostmeier was elected as BVK president, a position that was newly established, and will jointly lead the organization with Dr Terhard. Dr Niethammer was confirmed in his position as vice-chairman.

Leaving the executive board are Rolf Christof Dienst, Klaus-Michael Höltershinken of BayernLB Private Equity, Günther Henrich of BayBG, and Prof Dr Wilhelm Haarmann of Haarmann.

The association has also replaced its previous code of conduct with a new, up to date conduct guideline based on that used by the European Private Equity and Venture Capital Association (EVCA). The new rules include the roll out of transparency guidelines, which were voluntarily adopted by members of the BVK Large Buyout initiative last October.

The transparency guidelines include recommendations for disclosing specific information on transactions and financed companies, if these companies meet three of the following four criteria: The company in question is a company according to German law, it has a company value in excess of EUR 750m, it generates at least EUR 300m in Germany and it has more than 1,000 employees in Germany.

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