Speaking at the reception, Pierre Gramegna, the DP finance minister, said:
“You have been particularly effective. The LPEA was created with 25 members. It now has 260. It is therefore 10 times larger than 10 years ago!”
Looking ahead, the LPEA said it had four main priorities: broadening access to private equity, expanding the venture capital ecosystem, making the world of private equity understood by a wider community of stakeholders, and recruiting more women into the industry.
Claus Mansfeldt, chair of the LPEA, commented at the event:
“The growth of private equity will continue during the next 10 years and will again exceed the performance of the stock market.... We also want private equity to be more accessible to individual investors. We would like Luxembourg to be innovative on this topic. This could in particular be a fantastic opportunity for private banks to be able to offer their clients the opportunity to invest in private equity.”
However, Rajaa Mekouar-Schneider, CEO of LPEA, stated that more training was needed:
“We need to train employees in the sector to enable them to develop their careers and to remain competitive with other financial centres.”
Private equity employs around 5,000 people in the grand duchy, mostly in back office functions.
Reported by Laura Fort; edited by Aaron Grunwald