Xavier Bettel, Prime-Minister of Luxembourg speaking at the LPEA AGM of May 11th 2015
Luxembourg Needs Private Equity!
The private equity community met on May 11th in Banque de Luxembourg for the annual general meeting of the Luxembourg Private Equity Association (LPEA). The guest speaker this year was the Luxembourg Prime Minister Xavier Bettel who emphasised his willingness to contribute towards a stronger investment community, notably in the private equity asset class.
LPEA is an active partner in the design of further improvements to the investment framework both at national and international level. This commitment was welcomed by Xavier Bettel to whom “regulation and innovation are compatible” and are both essential to “build trust” in Luxembourg’s financial centre. A centre that is today part of the nation branding but that “we cannot give for granted” and must evolve with new practices together with the other European countries.
Xavier Bettel also highlighted the role of private equity and venture capital in providing money to those who have ideas. The sector, by bringing together “the money, the creators and the organisers”, is a driver for innovation and therefore an attribute Luxembourg must preserve and attract. In the Prime Minister’s words addressed to the investors present in the room and referring to the on-going optimization of the investment framework, the message could not be more clear: “you need us but we need you most”.
The evening started with LPEA’s statutory meeting which approved unanimously the report of the Board of Directors, the annual accounts of 2014 and the budget for 2015.