The European Private Equity and Venture Capital Association (EVCA) will be chaired for the period June 2005 to June 2006 by Sir David Cooksey, chairman of UK-based venture capital firm, Advent Venture Partners and founding chairman of the British Venture Capital Association (BVCA).
Cooksey takes over from Herman Daems, chairman of GIMV NV/SA, who has held the position since June 2004. Javier Loizaga, executive partner at the Spanish-based private equity firm Mercapital, was also confirmed as chairman-elect at the EVCA’s annual general assembly. Loizaga’s appointment will be voted on at the next EVCA symposium in Monaco, on June 14–16 2006.
“The next 12 months will be exceedingly busy for the EVCA in the light of the wider economic developments in Europe,” Cooksey said. “We need to continue to show the unique strengths and benefits of our industry and the role that it plays in both national and European economies to a wide variety of audiences – regulators, investors and the business community.”
Cooksey will focus on targeting EU member states to remove barriers for private equity and venture capital investment. The EVCA has called for the inclusion of a chapter on private equity and venture capital to be included in each EU country’s annual report to the European Commission on progress made towards achieving the Lisbon objectives.
Cooksey said he would also work to increase awareness of the private equity industry at European policy level, and to defend the interests of the industry. Other targets on the new chairman’s agenda include improvement of investors’ understanding of European private equity and building on the self-regulation and professional standards within the industry.
(For more news on self-regulation, see page 12.)