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
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...