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PRESS RELEASE
Luxembourg, 15th June 2023
Election of new Board Members
The Annual General Meeting reported membership growth of 28% in 2022.
The LPEA would like to thank BNP Paribas for hosting the AGM this year.
The Luxembourg Private Equity & Venture Capital Association (LPEA) presented its Annual Report for the year 2022 at the association’s Annual General Meeting held on Tuesday.
Among the key takeaways of the gathering we highlight:
– The membership growth of 28% to 413 members which matches the overall dynamic of the Private Equity (PE) and Venture Capital (VC) markets. Affiliate members alone increased by 126% with all categories growing by at least 10%;
– The ESR certification obtained end of 2022, led the association to promote the adoption of a new Code of Conduct applying to all its members;
– The positive financial results, significantly driven by the membership increase, give comfort to the members and allow the association to continue expanding its activities and the promotion of the Luxembourg PE-VC hub abroad;
– 10 New members were elected to the Board as part of the annual renewal of this governing body. We stress the election of four new female representatives bringing women participation in the Board to 27%.
– The elected members represent the following “Full Members” of the association (investors and fund managers):
- Advent International, represented by Martine Kerschenmeyer
- Astorg Asset Management, represented by Hind El Gaidi
- BC Partners, represented by Giuliano Bidoli
- Blackstone, represented by Tudor Sambritchi
- CVC Advisers (Luxembourg), represented by Caroline Goergen
- EQT, represented by Peter Veldman
- European Investment Fund, represented by Marcel Müller-Marbach
- Mangrove Capital Partners, represented by Hans-Jürgen Schmitz
- The Carlyle Group (Luxembourg) S.à r.l., represented by Estelle Beyl Vodouhe
- Wendel, represented by Claude de Raismes
Stephane Pesch, CEO of the LPEA, is enthusiastic with the “continuous growth of the association which reflects the sector’s resilience and attractiveness of the LPEA to the industry professionals. Moreover, the number of new members that joined us already this year anticipates an even larger association by year-end.”
As for Claus Mansfeldt, Chairman of SwanCap Investment Management S.A. and President of the LPEA, last year was highly impacted by macro-economic factors. Nonetheless, “the total value of completed deals in 2022 concluded well above pre-pandemic levels. In fact, 2022 was the second most active year of the last decade.”
To close the AGM, the LPEA invited two guest speakers from the European Investment Fund to present the Luxembourg Future Fund II. This public-private initiative is managed by the EIF and will deploy EUR 200 million in hybrid debt equity, invest in VC funds or co-invest into Luxembourg-based SMEs.
The Luxembourg Private Equity and Venture Capital Association (LPEA) is the representative body of Private Equity and Venture Capital professionals in Luxembourg. With 451 members, LPEA plays a leading role in the discussions and development of the ecosystem and actively promotes the industry beyond the country’s borders.
The Board of the LPEA is composed of 30 members and is due to elect 10 new Board Members annually for three-year terms.
LPEA BOARD
For additional information please contact the office: lpea-office@lpea.lu / +352 28 68 19 – 602.
