Among eleven new members elected to the 30-member board of the Luxembourg Private Equity & Venture Capital Association (LPEA) was the first election of Threestones Capital Management represented by Mathieu Perfetti. Also noteworthy were the re-election of Swancap (represented by Claus Mansfeldt, who is the chairman of the LPEA board) and Cinven (Gautier Laurent) and the change of representative of 3i Investments with Aline Bapst replacing the founding member of LPEA Antoine Clauzel.

The association also released its annual report at the meeting. It shows that membership of the LPEA increased by 26 members to 324 in total over the past year, with growth coming from all types of members (full, associate and affiliate). “This reflects the continuous appetite for PE/VC asset classes in Luxembourg despite successive confinement periods,” the association stated in a press release.

“2021 was still heavily disturbed during the first part of the year and experienced again a rougher patch around the end of the year but overall we experienced a rather unusual and simultaneously very resilient and successful year for the association,” said LPEA CEO Stephane Pesch.

In his address, chairman Claus Mansfeldt pointed out that 2021 closed with record volumes globally, especially in the main buyout markets. It was, said Mansfeldt, “the first year to surpass $800 billion in aggregate transaction volume, with some sources even citing $1 trillion in value, beating the prior record [2007] by nearly 20%.”

Keynote speaker at the event was Andrey Kolodyuk, Chairman of the Ukrainian Venture Capital and Private Equity Association, who is leading the Ukraine Redevelopment and Recovery Plan, a strategic initiative to overcome the effects of war in Ukraine with the active participation of international private equity investors and investments.