How transparency is boosting European PP

Author: Danielle Myles | Published: 13 Nov 2014

Transparency and private placement (PP) may seem strange bedfellows. But reconciling the concepts may be exactly what’s needed to get the pan-European PP market going.

This valuable lesson has been learnt from the success of French PP, which has grown from nothing into a €50 billion ($62.3 billion) market in just four years. And it’s set to be incorporated into the regional initiative being led by the International Capital Markets Association (ICMA).

The particularities of French investment law have meant that the vast majority of the country’s PPs have been listed. While this goes against the grain of the concept of PP, it has been an important contributor to the asset class’s success.

"The fact this was a listed market to start with has...