On 14 December 2018, the Private Equity Reporting Group (PERG) issued a report assessing the private equity sector's conformity with the Walker Guidelines (PERG's 11th Report) and providing recommendations to the British Private Equity and Venture Capital Association ("BVCA").

The report found, among other things, that:

  • All portfolio companies sampled complied with the disclosure requirements in their annual report compared to 79% in the 2017 PERG Report.
  • Of the companies reviewed, 81% and 74% published their annual reports and mid-year updates, respectively, on their websites in a timely manner (compared to 78% and 72% in 2017).
  • There was a drop in non-compliance within the sample as 7% of portfolio companies (all of which were backed by non-BVCA members) had not complied with any of the components of the Walker Guidelines that applied to them compared with 12% in 2017.

The PERG report can be accessed here.

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