Speaking at a seminar on private equity and venture capital fund registration put together by Henshaw Capital Partner Limited in partnership with the SEC and Agusto & Co. Limited, Deputy Director, Collective Investment Services, SEC, Mrs. Chy Nwude, said changes seen in the global regulatory landscape in private equity funds came about in response to the global financial crisis of 2008.
Nwude, who represented the Director General of the SEC, Ms Arunma Oteh, stated that reforms in the private equity and hedge fund space are based on the belief that the alternative investment industry contributed in no small measure to the global financial crisis.
“The regulators are imposing significant transparency and disclosure obligations on the private equity fund industry to guard against systematic failure as the collapse of a major hedge fund could significantly impact the financial sector,” she said.
Meanwhile, Founder and Chief Executive Officer of Henshaw Capital Partner, Babara James, said Nigeria has the capacity to build a $20 billion private equity industry by 2020.
Babara, who co-chairs the Nigerian Private Equity and Venture Capital Development Committee of the Federal Government, believes that private equity and venture capital could be a catalyst for business growth and job creation in the country.