The following Code of Conduct establishes a minimum set of principles, compliance with which is encouraged for all Association Members, as of January 1 2012.
Members shall promote and maintain ethical standards of conduct and at all times deal fairly and honestly with each other and with companies seeking private equity.
Members shall conduct their business in a professional way and will not engage in practices which would be damaging to the image of the private equity industry.
Members recognize that their primary business is building the strength of their investee companies which will result in the funds under management making long-term capital gains.
Membership of the Association implies an active involvement by members in the companies in which they invest and this involvement shall be applied constructively to the benefit of the company concerned.
Members who sponsor investment syndications with other parties, whether members of the Association or not, must operate on the basis of full disclosure to such other parties.
Members will not accept in their funds subscribed capital from unspecified sources.
Members shall be accountable to their investors and keep their investors fully and regularly informed, including the provision of regular financial reports.
No member shall take improper advantage of its position in the Association nor of any information addressed to the Association.
Members shall respect confidential information supplied to them by companies looking for private equity or by companies in which they have invested.
All full members must supply investment and performance information to the Association or its nominated agent. This information will be treated confidentially and used in the compilation of private equity industry reports where only aggregate information will be published.
Members shall require their directors, employees, representatives and nominees to comply with these standards. Members will avoid financing enterprises or participating in activities which are inconsistent with these goals.