Explorez tous les épisodes du podcast Alternative Asset Management & Sustainability Insights
| Titre | Date | Durée | |
|---|---|---|---|
| Travers Smith's Sustainability Insights: Sustainability reporting: retreat or reset? | 23 Oct 2026 | 00:07:56 | |
Reporting burden eases globally: Regulators worldwide are scaling back sustainability disclosure requirements, with the UK taking a measured approach that favours flexibility and proportionality. Flexibility replacing prescription: The FCA is moving away from mandatory, metric-heavy reports towards a "comply or explain" model aligned with international standards, giving firms greater discretion over how they communicate material sustainability information. Less reporting, harder judgements: Reduced mandatory disclosure does not mean reduced responsibility, as firms must still make rigorous, defensible assessments of materiality and be prepared to justify their approach to investors and the FCA alike. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-the-uks-cautious-roll-out/ https://www.fca.org.uk/news/press-releases/simpler-climate-reporting-rules-could-save-firms-20m-annually https://www.fca.org.uk/publication/handbook/handbook-notice-144.pdf https://www.fca.org.uk/publication/policy/ps26-19.pdf https://assets.publishing.service.gov.uk/media/6aa913c42344967b89b087ed/modernising-corporate-reporting-consultation-document.pdf | |||
| Travers Smith's Alternative Insights: Artificial Intelligence – Humanity's sunset or the dawn of a golden age for financial services? | 09 Oct 2026 | 00:08:28 | |
Key insights
Links: one safety researcher at Anthropic earlier issue of Alternative Insights | |||
| Travers Smith's Sustainability Insights: SFDR 2.0 – the Mist Clears What is agreed about SFDR 2.0, and where gaps remain | 25 Sep 2026 | 00:08:01 | |
Some clarity, at last: After nearly a year of debate, key elements of SFDR 2.0 seem to be all but agreed: a three-category product labelling regime that is unlikely to apply before early 2029. There will be further negotiations over the precise details. New benefits, new burdens: Alternative asset managers may be heartened by the EU Parliament's support for an opt-out for some professional-only AIFs and an exemption for legacy funds, but those positives may be offset by proposed new disclosure and reporting requirements that add cost and complexity. Private markets not specifically addressed: By failing to adopt the Council's provisions for real and private assets, the EU Parliament is running the risk that active ownership strategies — a cornerstone of private markets investing — may be locked out of the new framework, making its text a step backwards in key respects. Links: | |||
| Travers Smith's Alternative Insights: UK AIFMD Review – the FCA misses its shot | 11 Sep 2026 | 00:07:32 | |
Reform in name only: The FCA's proposals recycle large portions of EU-derived rules into new British ones. For larger managers, the regulatory burden will feel much the same. Small managers, bigger burden: The firms the reforms claim to help — smaller managers and new market entrants — may face more rules, as they will fall within a detailed regulatory framework for the first time. A missed strategic opportunity: Brexit was a chance to design a competitive, ground-up framework for asset management to attract international businesses to the UK, but the FCA has failed to seize it. Links: | |||
| Travers Smith's Alternative Insights: Private capital faces more tax scrutiny | 24 Jul 2026 | 00:07:12 | |
Key Insights: Policy calm, but fragile: The UK government has engaged constructively with the private capital sector since 2024, but the incoming administration's intentions on capital gains tax and wealth taxes remain unclear. Tax disputes an increasing headache for businesses: The UK tax authority's escalating scrutiny of executive remuneration – reflected in high-profile court victories and an apparent jump in investigations – is presenting financial and operational challenges for the private capital sector. Asymmetry favours the agency: HMRC dictates the pace, scope and terms of enquiries. Links: https://www.ft.com/content/6b8cd156-c5bb-4cce-8c54-818fd19fab96?syn-25a6b1a6=1 https://www.traverssmith.com/knowledge/knowledge-container/the-uks-carried-interest-tax-regime/ https://www.traverssmith.com/knowledge/knowledge-container/uk-government-proposes-reform-of-taxation-of-llc-members/ https://www.traverssmith.com/knowledge/knowledge-container/all-change-for-uk-aifmd | |||
| Travers Smith's Sustainability Insights: Defence needs capital – and clarity | 10 Jul 2026 | 00:06:37 | |
Sustainability issues are manageable: Policymakers and industry initiatives are clearing sustainability obstacles, but – although vital – these are usually not the main obstacle to defence investment in Europe. Due diligence challenges remain: Human rights and end-use risks cannot be fully eliminated, and governments and investors need to work hard to manage them. Commercial hurdles persist: The real barriers are commercial: for example, slow procurement, unclear demand signals, and lack of long-term contracts. Links: https://www.investeurope.eu/publications-policy/publications/2026/model-limited-partnership-agreement-lpa-language-for-defence-dual-use-investment/ https://eiriscrn.net/grid/ https://www.rusi.org/explore-our-research/publications/insights-papers/private-capital-uk-defence https://www.ft.com/content/72878c3e-a4c6-4e4d-86c1-6df11593e4ac?syn-25a6b1a6=1 https://www.gov.uk/government/publications/the-defence-investment-plan https://www.traverssmith.com/knowledge/knowledge-container/backing-british-can-the-uk-become-the-leading-destination-for-defence-investment/ | |||
| Travers Smith's Alternative Insights: The disruptor is disrupted | 26 Jun 2026 | 00:06:35 | |
Alternative Insights Summit 2026: In London last week, Travers Smith's clients and friends convened to discuss the key issues of the day in the private markets. Increasing access to private market returns: One theme was the need for UK pension funds to take more advantage of the returns available, while sponsors should approach the wealth market with transparency, good governance – and without over-reliance on potentially fickle capital. Defence is a vital opportunity: With Europe on a war footing, defence offers compelling returns across technology, infrastructure and supply chains – but government must provide faster procurement, clearer contracting and stronger demand signals to mobilise private capital at scale. Links: https://www.traverssmith.com/knowledge/events-container/alternative-insights-summit-2026/ | |||
| Travers Smith's Sustainability Insights: What can (private markets) investors do about climate change? | 12 Jun 2026 | 00:08:58 | |
Investors must face reality: A new report argues that a decade of disclosure targets and stewardship has failed to drive real-world decarbonisation, because technology development and government policy – not investor pressure – are the primary determinants of how quickly economies transition. Private markets have real advantages – but clear limits: A sponsors' greater agency over portfolio companies gives private markets a genuine edge, but fiduciary duties mean no manager can pursue climate goals unless it is in the interests of their LPs or consistent with a specific mandate. Policy engagement is the under-used lever: Private markets managers – closer than most to what makes a project financeable – are well placed to tell governments what conditions will attract private capital, and that expertise could be deployed more deliberately, and more often. Links: https://www.fmg.ac.uk/sites/default/files/2026-05/What-Can-Investors-Do-About-Climate-Change_final.pdf https://www.edf.org/ https://www.lse.ac.uk/global-school-of-sustainability https://collaborate.unpri.org/group/761/about https://www.bain.com/how-we-help/private-markets-decarbonization-roadmap/ | |||
| Travers Smith's Alternative Insights: Governing the huge potential of AI | 29 May 2026 | 00:06:36 | |
KEY INSIGHTS Governance creates value: Effective AI governance is not a compliance exercise – for private capital firms, it is a discipline central to value creation, which can be applied as rigorously to their own operations as to their portfolio companies. Humans must stay in control: An effective AI governance framework places human oversight and accountability at its core, with named individuals responsible, clear rules on data and tools, and meaningful review of every AI-generated output. Nimbleness is now essential: As technology, regulation and use cases evolve rapidly, firms must continuously adapt their AI policies – and embed a culture that empowers, even requires, staff to use AI actively while remaining alert to its risks. Links: Responsible-AI-Quick-Guide-for-Asset-Owners.pdf FCA, Bank of England and Treasury joint statement on frontier AI models and cyber resilience | FCA | |||
| Travers Smith's Sustainability Insights: Not less, just different: The hidden opportunity in the EU's regulatory reset | 15 May 2026 | 00:07:41 | |
KEY INSIGHTS EU is not retreating: Despite framing its agenda as simplification, the EU is rebuilding its environmental product regulation to be more digital, more enforceable and, in several areas, more consequential than before. Environmental regulation offers a strategic opportunity: The EU is recasting product rules as industrial policy, with significant implications for supply chain intensive businesses, among others. Greenwashing and PFAS demand action now: Tougher rules on environmental claims and accelerating litigation risk around forever chemicals mean that consumer-facing and industrials-exposed portfolio companies cannot afford to wait for regulatory certainty before acting. Links: A Simpler, Clearer and Better Enforced EU Rulebook - European Commission Moving Parts: A Guide to the EU's Evolving Product Regulatory Landscape | Travers Smith EU's Digital Product Passport: Advancing transparency and sustainability | data.europa.eu Circular Economy - Environment - European Commission Updates to EU CBAM: Balancing climate and competitiveness | Travers Smith | |||
| Travers Smith's Alternative Insights: A testing moment for private markets regulators | 01 May 2026 | 00:06:52 | |
Deregulation is gaining ground: On both sides of the Atlantic, regulators are shifting focus toward burden reduction — but concerns about increasing risks are also prominent. Systemic risk concerns are real but manageable: Legitimate questions about hidden credit problems, bank-fund linkages and the widening distribution of private markets products deserve scrutiny — but the risks are being actively monitored, and sophisticated investors are still backing the asset class with conviction. Engage now, but with eyes open: The industry has a rare opportunity to shape a more proportionate regulatory framework in both the EU and UK — but caution is required: history suggests that what enters the legislative process as simplification does not always emerge that way. Links: https://www.traverssmith.com/knowledge/knowledge-container/aifmd-ii-the-next-phase-of-eu-alternative-investment-fund-regulation/ https://www.traverssmith.com/knowledge/knowledge-container/eu-retail-investment-directive-and-regulation/ https://www.efama.org/newsroom/news/ris-reality-check-why-we-must-hit-pause-retail-investment-strategy https://www.traverssmith.com/knowledge/knowledge-container/eu-market-integration-package/ https://www.traverssmith.com/knowledge/knowledge-container/buy-side-story-the-fcas-2026-regulatory-priorities-for-the-sector/ https://www.traverssmith.com/knowledge/knowledge-container/fca-private-market-valuation-review/ https://www.sec.gov/newsroom/press-releases/2026-40-sec-cftc-jointly-propose-amendments-reduce-private-fund-reporting-burdens https://www.theguardian.com/business/2025/oct/14/jp-morgan-jamie-dimon-losses-private-credit-sector https://www.ft.com/content/5c9939bf-3c85-43b0-b605-842f24cd8753 https://www.bankofengland.co.uk/news/2025/december/boe-launches-system-wide-exploratory-scenario-exercise-focused-on-private-markets https://www.fca.org.uk/publication/regulatory-priorities/wholesale-buy-side-report.pdf | |||
| Travers Smith's Sustainability Insights: Reporting requirements still shifting | 17 Apr 2026 | 00:08:14 | |
EU and UK rules still shifting: The EU's omnibus rollback has narrowed the scope of corporate sustainability reporting, but the standards themselves remain unfinished and last-minute changes to improve alignment with international frameworks could prove contentious. SFDR reform sidelines private markets: Member states are divided on key aspects of the Commission's proposed SFDR overhaul, with engagement as an investment approach, grandfathering and category criteria all contested — and private markets concerns still largely unaddressed. Time to engage is now: Some positive signals are emerging, including Sweden's push to adapt the framework for unlisted assets and calls to extend transition periods, but private markets participants need to act quickly to shape the final rules. Links: https://www.traverssmith.com/knowledge/knowledge-container/the-omnibus-reaches-its-destination-csrd-and-cs3d-20/ https://www.responsible-investor.com/eu-weighing-last-minute-move-to-adopt-issb-sustainability-standards/ https://www.traverssmith.com/knowledge/knowledge-container/ready-set-report-the-fca-fires-the-starting-gun-on-uk-sustainability-reporting/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-the-uks-cautious-roll-out/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-six-fixes-for-sfdr-20/ https://data.consilium.europa.eu/doc/document/WK-3931-2026-INIT/en/pdf https://www.investeurope.eu/publications-policy/publications/2026/invest-europe-position-paper-on-sfdr-20/ https://doi.org/10.1093/jfr/fjac001 | |||
| Travers Smith's Alternative Insights: Accountability drives culture | 20 Mar 2026 | 00:05:51 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at non-financial misconduct, and how accountability drives culture. FCA sharpens oversight: The UK regulator is finalising new rules on non-financial misconduct, extending its scrutiny beyond the office and setting clearer standards for personal and workplace behaviour. Manager accountability grows: Managers must actively prevent bullying and harassment, or risk personal liability under the Conduct Rules if they fail to act. Culture change expected: Firms can no longer dismiss poor behaviour as business as usual, with the FCA aiming to shift the conversation from 'Sexism in the City' to 'Accountability in the Office'. Links: https://www.ft.com/content/2e4df2fe-d2ae-46aa-bd00-d031a037bb44 https://www.traverssmith.com/knowledge/knowledge-container/new-fca-guidance-on-non-financial-misconduct/ | |||
| Travers Smith's Sustainability Insights: The UK's cautious roll out | 06 Mar 2026 | 00:07:27 | |
In this week's issue of Travers Smith's Sustainability Insights, we are looking at the UK's rollout of sustainability disclosure standards. The EU's sustainability omnibus is finally passed: The European Union has finalised its dramatic reforms to sustainability reporting rules, hitting fewer private companies and relaxing several related obligations. The UK confirms a cautious roll out: The UK’s sustainability reporting standards have been finalised, but mandatory rules are being developed that focus on proportionality and cost-benefit analysis – with more news for large private companies expected later in 2026. Sustainability remains a priority for rule makers: Both the EU and UK remain committed to sustainability as a policy priority, but now openly discuss burdens for companies as well as benefits for society. Links: https://www.consilium.europa.eu/en/press/press-releases/2026/02/24/council-signs-off-simplification-of-sustainability-reporting-and-due-diligence-requirements-to-boost-eu-competitiveness/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-sustainability-reforms-lack-a-convincing-theory-of-change/ https://www.gov.uk/government/publications/uk-sustainability-reporting-standards-uk-srs-s1-and-uk-srs-s2 https://www.fmg.ac.uk/isf/publications/special-papers/do-climate-disclosure-mandates-help-decarbonise-economy https://www.traverssmith.com/people/simon-witney/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-why-less-might-be-more/ https://www.gov.uk/government/consultations/exposure-drafts-uk-sustainability-reporting-standards/outcome/government-response-to-the-consultation-on-uk-sustainability-reporting-standards-web-version#:~:text=a%20world%20leader%20for%20sustainable%20finance | |||
| Travers Smith's Alternative Insights: Unlocking private markets | 20 Feb 2026 | 00:07:41 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at UK regulator's client categorisation rules and their effect on firms looking to access individual investors. Wealthy individuals targeted: In Europe, policymakers and larger private fund managers are adapting rules and processes to attract more high-net-worth investors, while acknowledging that managing investor protection rules is essential. FCA aims to simplify categorisation: The UK's regulator is proposing a more flexible, judgment-based approach to opting up retail clients, replacing rigid thresholds but stressing the need for robust assessments and proper due diligence. Firms must maintain standards: As individual investors become more prevalent in private markets, compliance processes are essential – requiring significant investment but promising lasting value. Links: https://www.traverssmith.com/knowledge/knowledge-container/eu-retail-investment-directive-and-regulation/ https://url.uk.m.mimecastprotect.com/s/LnL0CQY4irXQXQFGHLIGkFHp?domain=sites-traverssmith.vuturevx.com https://www.ukprivatecapital.co.uk/static/dd01a037-6196-4184-87b43369579f1f87/260119-UK-Private-Capital-reponse-to-CP2536-Client-Cat-and-CoI-FINAL.pdf | |||
| Travers Smith's Sustainability Insights: Six fixes for SFDR 2.0 | 06 Feb 2026 | 00:06:09 | |
SFDR 2.0: Six fixes for private markets Current SFDR 2.0 proposals risk sidelining private funds—imposing impractical rules, stifling innovation, and missing the unique strengths of private capital. Is the EU about to bake greenhushing into law? What’s at stake for private funds?
What Needs to Change?
Practical Takeaways:
How will you use your stakeholder voice as SFDR 2.0 moves forward? Links:
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| Travers Smith's Alternative Insights: More turbulence in the year ahead | 23 Jan 2026 | 00:05:48 | |
This week we are taking a special look at the issues that will shape private capital in the year ahead. You can read our full analysis of those legal, regulatory and tax headwinds in our new publication Insights 26. Links: the Corporate Sustainability Due Diligence Directive the Corporate Sustainability Due Diligence Directive national security deal notification start, scale, and stay in the UK | |||
| Travers Smith's Sustainability Insights: Sustainability reforms lack a convincing theory of change | 09 Jan 2026 | 00:06:43 | |
In his week's issue of Travers Smith's Sustainability Insights, we are looking at the agreed reforms to the EU's sustainability disclosure rules. Links: | |||
| Travers Smith's Alternative Insights: The Commission's SFDR proposal fails to deliver clarity | 12 Dec 2025 | 00:09:38 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the Commission's SFDR proposal fails to deliver clarity. Links: https://www.traverssmith.com/knowledge/knowledge-container/finalised-sfdr-20-proposals/ https://www.traverssmith.com/knowledge/knowledge-container/possible-changes-to-the-eu-sfdr-the-european-commission-seeks-views/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-what-will-sfdr-20-look-like/ | |||
| Travers Smith's Alternative Insights: The UK's budget | 28 Nov 2025 | 00:06:02 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the UK's strategy for private capital in the wake of the latest budget. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-impact-of-uk-tax-policy/ https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025/ https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025-private-capital/ https://www.fnlondon.com/articles/rachel-reeves-private-equity-will-be-key-to-growth-push-95c10a9a https://assets.publishing.service.gov.uk/media/68595e56db8e139f95652dc6/industrial_strategy_policy_paper.pdf https://www.bvca.co.uk/static/e07847be-bbcc-4b7e-a201d5d182700aca/BVCA-Response-to-Invest-2035-The-UKs-Modern-Industrial-Strategy.pdf | |||
| Travers Smith's Alternative Insights: Fund labels in Europe | 14 Nov 2025 | 00:05:35 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at European fund labels. Links: https://www.traverssmith.com/knowledge/knowledge-container/draft-sfdr-20-proposals/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-exchange-podcast/ https://uksif.org/uksif-pwc-report-uk-sdr-and-investment-labels-implementation-lessons-and-the-road-ahead/ | |||
| Travers Smith's Alternative Insights: Are pooled investment funds on their way out? | 31 Oct 2025 | 00:08:59 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the long term implications of the development of fund tokenisation. Links: https://www.fca.org.uk/publication/consultation/cp25-28.pdf https://www.theia.org/sites/default/files/2023-11/UK%20Fund%20Tokenisation%20-%20A%20Blueprint%20for%20Implementation.pdf | |||
| Travers Smith's Sustainability Insights: Human rights due diligence and defence investments | 17 Oct 2025 | 00:06:55 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at human rights due diligence and defence investments. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-private-markets-and-policy-goals/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-and-security-investing-in-defence https://defence-industry-space.ec.europa.eu/eu-defence-industry/defence-readiness-omnibus_en https://data.consilium.europa.eu/doc/document/ST-12811-2025-INIT/en/pdf https://www.rusi.org/explore-our-research/publications/insights-papers/are-esg-standards-scapegoat-stalling-defence-growth https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-investing-in-europes-defence/ https://docs.google.com/document/d/1WpGBd6s2-MO5YQw4nVDtiH0av5TjSCMfOoIDrupHLlY/edit?tab=t.0 https://www.europeandefense.org/ https://www.ohchr.org/sites/default/files/2022-08/BHR-Arms-sector-info-note.pdf https://www.americanbar.org/groups/human_rights/reports/defense-industry-human-rights-due-diligence-guidance/ | |||
| Travers Smith's Alternative Insights: Private markets and policy goals | 03 Oct 2025 | 00:07:02 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at public private markets and how asset managers can influence them. Links: https://www.msn.com/en-gb/money/video/80-of-draghi-investment-ask-will-come-from-private-capital-says-kkr/vi-AA1NlSif https://www.cityam.com/rishi-sunak-assures-city-that-bonfire-of-financial-services-regulations-post-brexit-is-around-the-corner/ https://www.british-business-bank.co.uk/news-and-events/news/british-business-bank-response-autumn-budget-2024 https://www.british-business-bank.co.uk/finance-options/british-growth-partnership https://www.bvca.co.uk/policy/nova.html https://www.lse.ac.uk/events/open https://www.fmg.ac.uk/isf/blended-finance-lab https://www.bankofengland.co.uk/-/media/boe/files/speech/2015/building-real-markets-for-the-good-of-the-people.pdf | |||
| Sustainability Insights: Why less might be more? | 19 Sep 2025 | 00:07:38 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at transition plans in the UK. | |||
| Travers Smith's Alternative Insights: Transatlantic tax policy and the art of the deal | 05 Sep 2025 | 00:07:19 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at transatlantic tax policy and the art of the deal. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-impact-of-uk-tax-policy/ https://www.traverssmith.com/knowledge/knowledge-container/new-uk-carried-interest-tax-regime-draft-rules-published/ https://www.traverssmith.com/knowledge/knowledge-container/new-uk-carried-interest-tax-regime-draft-rules-published/ | |||
| UK adoption of sustainability reporting standards and mandatory transition plans | 21 Jul 2025 | 00:21:04 | |
In June, the UK took the next step in its plan to adopt international sustainability reporting standards for UK businesses, publishing a key consultation document. On the same day, it launched a consultation on how to implement its manifesto commitment to mandate credible, Paris-aligned climate transition plans for FTSE 100 companies and UK-regulated financial services firms, including asset managers. | |||
| Alternative Insights: The impact of UK tax policy | 18 Jul 2025 | 00:08:47 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the impact of Taxing financial services professionals in the UK. Links: https://assets.publishing.service.gov.uk/media/6735f4670b168c11ea82311d/Financial_Services_Growth___Competitveness_Strategy_-_Call_for_Evidence_.pdf https://www.reuters.com/world/uk/uk-scrap-non-dom-tax-status-foreign-earnings-2024-03-06/ https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2024-non-dom-regime/#thechanges2 https://on.ft.com/3Ij9PrT https://www.traverssmith.com/knowledge/knowledge-container/rule-changes-for-european-private-fund-managers/ https://obr.uk/docs/dlm_uploads/OBR_Economic_and_fiscal_outlook_Oct_2024.pdf https://www.traverssmith.com/knowledge/knowledge-container/government-provides-welcome-update-to-carried-interest-reform-proposals/ https://www.ft.com/content/ba781c26-f3f0-4657-bad7-d47337353790 https://on.ft.com/4nIgID5 | |||
| Sustainability Insights: UK takes another step towards mandatory sustainability disclosures | 04 Jul 2025 | 00:07:57 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at the UK's adoption of ISSB standards. | |||
| Alternative Insights: Secondary market liquidity before exit: old wine in new bottles? | 20 Jun 2025 | 00:07:12 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at liquidity routes for portfolio companies before exit. Links: https://www.linkedin.com/posts/travers-smith_assetmanagement-privatecapital-markets-ugcPost-7341038259122126849-K5r1?utm_medium=ios_app&rcm=ACoAAANSBP8B6s50YH7QZ6bxZ_O1alhPfCdpZEM&utm_source=social_share_send&utm_campaign=copy_link https://www.traverssmith.com/knowledge/knowledge-container/pisces-key-questions-answered https://www.gov.uk/government/news/government-goes-further-and-faster-to-boost-capital-markets-by-delivering-pisces https://on.ft.com/3FyWeM2 | |||
| Sustainability Exchange: Episode 4 - Should my next fund be an Article 8 fund? | 16 Jun 2025 | 00:40:40 | |
In the fourth Sustainability Exchange of the series, Simon invites Paula Langton, Partner and head of the sustainability practice at Campbell Lutyens and Phil Bartram to unravel the complexities of SFDR classification. Listen now to explore:
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| Sustainability Insights: What will SFDR 2.0 look like? | 06 Jun 2025 | 00:06:08 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at the ongoing review of the SFDR. Links: https://finance.ec.europa.eu/sustainable-finance/disclosures/sustainability-related-disclosure-financial-services-sector_en#:~:text=attracting%20private%20funding%20to%20help%20Europe%20make%20the%20shift%20to%20a%20net%2Dzero%20economy. https://www.traverssmith.com/knowledge/knowledge-container/possible-changes-to-the-eu-sfdr-the-european-commission-seeks-views/ https://finance.ec.europa.eu/document/download/0f2cfde1-12b0-4860-b548-0393ac5b592b_en?filename=2023-sfdr-implementation-summary-of-responses_en.pdf https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14666-Revision-of-EU-rules-on-sustainable-finance-disclosure_en https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14666-Revision-of-EU-rules-on-sustainable-finance-disclosure/F3562074_en https://uksif.org/uksif-response-eu-commission-sfdr-call-for-evidence/ https://finance.ec.europa.eu/publications/categorisation-products-under-sfdr-proposal-platform-sustainable-finance_en https://www.traverssmith.com/knowledge/knowledge-container/simplification-or-deregulation-the-eus-sustainability-omnibus-explained/ | |||
| Alternative Insights: Rule changes for European private fund managers | 23 May 2025 | 00:07:59 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the rule changes for European private fund managers. Links: Financial services – review of EU rules on alternative investment fund managers Kickstart economic growth – The Labour Party e6cd4328-673c-4e7a-8683-f63ffb2cf648_en Regulations for Alternative Investment Fund Managers (Accessible) - GOV.UK Call for Input: Future regulation of alternative fund managers Targeted consultation on integration of EU capital markets 2025 - European Commission | |||
| Sustainability Insights: Sustainability reporting season | 09 May 2025 | 00:05:59 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at the forthcoming round of sustainability reports for alternative asset managers. Links: https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/14666-Revision-of-EU-rules-on-sustainable-finance-disclosure_en https://www.gov.uk/government/publications/climate-related-financial-disclosures-for-companies-and-limited-liability-partnerships-llps https://www.traverssmith.com/knowledge/knowledge-container/sustainability-disclosure-requirements-sdr-and-investment-labels-the-new-rules/#A2:~:text=section%203%20below.-,Entity%2Dlevel%20disclosures,-Requirements%20on%20UK https://assets.bbhub.io/company/sites/60/2021/10/FINAL-2017-TCFD-Report.pdf https://www.traverssmith.com/knowledge/knowledge-container/the-clock-stops-but-the-bus-rumbles-on-csrd-omnibus-clears-its-first-hurdle/ https://www.ifrs.org/issued-standards/ifrs-sustainability-standards-navigator/ | |||
| Sustainability Exchange: Episode 3: What should a European firm say to its US investors about ESG? | 07 May 2025 | 00:36:51 | |
In this episode Simon, Trysha Daskam-Smith, Head of ESG Strategy at Silver Regulatory Associates and Michael Raymond delve into pressing issues faced by European fund managers when dealing with US investors amidst the current headlines. Tune in to explore:
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| Alternative Insights: The UK regulator's approach to valuation | 25 Apr 2025 | 00:06:47 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the UK regulator's review of valuations in private markets, highlighting some important action points for UK-regulated firms. Links: FR10/23 Thematic Analysis: Emerging Risks in Private Finance Private market valuation practices | FCA 23-013_6a38dcc8-4aff-4acc-8f28-d024728613d6.pdf Portfolio letter: Asset Management & Alternatives - Supervisory Strategy | |||
| Sustainability Insights: Investing in Europe's defence | 04 Apr 2025 | 00:07:46 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at investments in defence by alternative asset managers. Links: Rethinking Defense: The Role of Private Capital | Bain & Company Woke guns? Banks want weapons badged as a social good – POLITICO Our position on sustainability regulations and UK defence | FCA ESMA Guidelines on Fund Names | Travers Smith Asset managers race to set up European defence funds Dutch pensions to invest €100bn in risky assets boosting Europe’s defence efforts 23-315 EIF Policy on Exclusions and Restrictions.pdf Norway urged to drop ‘crazy’ ban on investment in defence companies | |||
| Sustainability Exchange - Episode 2: Should the carried interest in my next fund be linked to sustainability outcomes? - Talking. Sustainability. | 01 Apr 2025 | 00:32:09 | |
A series of dynamic conversations hosted by Simon Witney, sustainable finance specialist, joined by two expert guests. Simon's guests, Ross Butler, Managing Director of Linear B Group, and Tosin Adeyeri, Partner in our Funds team, debate opposing answers to this topical question. Listen now to learn what ESG-linked carried interest means and how it works, plus the pros and cons of incorporating non-financial KPIs into fund economics from their frontline perspective. The episode ends with a one-sentence answer from each expert guest to… Should your next fund include and ESG or perhaps impacts linked carried interest? | |||
| Alternative Insights: Fixing the European plumbing | 21 Mar 2025 | 00:08:32 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at securitisation reform in Europe. Links: New approach to ensure regulators and regulation support growth (HTML) - GOV.UK New approach to ensure regulators and regulation support growth (HTML) - GOV.UK Simplification or Deregulation? The EU's Sustainability Omnibus Explained | Travers Smith How to fix Europe’s securitisation market Investors call for shake-up of Europe’s ‘failed’ securitisation market Reviving the UK securitisation market Apollo Sees €1 Trillion Opportunity If Europe Overhauls ABS Securitisation Data Report Q4 2023 & 2023 Full Year | AFME The Opportunity Of Asset-Based Finance Draws In Private Credit | S&P Global Ratings 97e481fd-2dc3-412d-be4c-f152a8232961_en ACC and AIMA respond to European Commission’s consultation on securitisation | |||
| Sustainability Insights: Will Trump 2.0 kill off the Brussels effect? | 07 Mar 2025 | 00:07:51 | |
In this week's issue of Travers Smith's Sustainability Insights we are asking whether it still makes sense for global compliance programmes to adopt a single standard. Links:
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| Alternative Insights: Taxing incentives in private markets | 21 Feb 2025 | 00:07:22 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at tax incentives in private markets. Links: Our 2024 budget briefing - https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2024/ BVCA The tax treatment of carried interest – Consultation on qualifying conditions - https://www.bvca.co.uk/static/2e27e13b-ef87-440e-b75bb6717c8e228a/BVCA-response-to-carried-interest-consultation-31-Jan.pdf Our briefing: Salaried members update: HMRC to reverse controversial guidance changes on increases in capital contributions - https://www.traverssmith.com/knowledge/knowledge-container/salaried-members-update-hmrc-to-reverse-controversial-guidance-changes-on-increases-in-capital-contributions/ | |||
| Sustainability Exchange - Episode 1: Should the UK adopt a Green Taxonomy? - Talking. Sustainability. | 19 Feb 2025 | 00:36:52 | |
A series of dynamic conversations hosted by Simon Witney, sustainable finance specialist, joined by two expert guests. Simon meets with James Alexander, Chief Executive of The UK Sustainable Investment and Finance Association (UKSIF) and Sarah-Jane Denton, Director of our Operational Risk & Environment team to evaluate the need, benefits, and practicality of a implementing UK-specific green taxonomy versus adopting the current EU framework. The episode ends with a one-sentence answer from each expert guest to… does the UK need a green taxonomy? The Sustainability Exchange was first published in our Talking. Sustainability. podcast. Follow for latest episodes in your favourite podcast player: https://feeds.captivate.fm/travers-smith-talking-sustainability-esg/ | |||
| Sustainability Insights: All aboard the unstoppable omnibus | 07 Feb 2025 | 00:07:05 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at the simplification of EU sustainability laws. Links: https://www.epp.eu/files/uploads/2025/01/EPP-Retreat-Growth-and-Jobs-statement.pdf https://www.humanrights.dk/files/media/document/Letter%20of%20European%20NHRIs%20on%20the%20omnibus%20proposal.pdf https://www.unpri.org/download?ac=22691 | |||
| Alternative Insights: Insights '25 | 24 Jan 2025 | 00:05:00 | |
In this week's issue of Travers Smith's Alternative Insights, we focus on our annual preview of the year ahead for the alternative asset managers, which we call Insights '25. Please do check it out – a link is below. Links: Insights '25 - What to expect in 2025 | |||
| Sustainability Insights: What's in store for 2025? | 10 Jan 2025 | 00:09:12 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at UK sustainability regulation, and what's in store for 2025. Links: https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-eu-sustainability-regulation-in-2025/ https://www.responsible-investor.com/esg-round-up-germanys-scholz-calls-for-two-year-delay-to-csrd/ https://www.traverssmith.com/knowledge/knowledge-container/icymi-a-recap-of-developments-in-eu-sustainability-reporting-in-2024/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-the-role-of-government-in-transition-finance/ https://www.traverssmith.com/knowledge/knowledge-container/size-matters-guidance-on-climate-related-disclosures-for-large-companies-and-llps/ https://www.gov.uk/guidance/energy-savings-opportunity-scheme-esos https://www.traverssmith.com/knowledge/knowledge-container/from-energy-savings-opportunity-to-energy-savings-requirements/ https://www.frc.org.uk/news-and-events/news/2024/12/uk-sustainability-tac-issues-final-recommendations/ https://www.traverssmith.com/knowledge/knowledge-container/cs3d-whats-new-and-whats-next/ https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5083571 https://www.theglobalcity.uk/PositiveWebsite/media/Research-reports/Scaling-Transition-Finance-Report.pdf https://www.traverssmith.com/knowledge/knowledge-container/uk-modern-slavery-act-2015-to-reform-or-not-to-reform-that-remains-the-question-following-latest-position-from-government/ https://www.gov.uk/government/publications/modern-slavery-government-response-to-house-of-lords-committee-report https://committees.parliament.uk/committee/700/modern-slavery-act-2015-committee/news/203272/uks-response-to-modern-slavery-has-not-kept-up-with-the-advances-of-other-nations/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-disclosure-requirements-sdr-and-investment-labels-the-new-rules/ https://www.traverssmith.com/knowledge/knowledge-container/sdr-finalised-guidance-on-the-anti-greenwashing-rule/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-labels-for-uk-funds-but-limited-impact-for-private-capital/ https://www.traverssmith.com/knowledge/knowledge-container/sdr-and-investment-labels-extension-of-the-regime-to-uk-portfolio-managers/ https://www.traverssmith.com/knowledge/knowledge-container/sustainability-disclosure-requirements-sdr-and-investment-labels-the-new-rules/#:~:text=wealth%20management%20services.-,Overseas%20funds%C2%A0,-The%20FCA%20says https://www.fca.org.uk/news/statements/fca-welcomes-move-bring-esg-ratings-providers-regulation | |||
| Sustainability Insights: EU sustainability regulation in 2025 | 13 Dec 2024 | 00:07:33 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at EU sustainability regulation, and what's in store for 2025. Links: https://www.consilium.europa.eu/en/press/press-releases/2024/11/08/the-budapest-declaration/ https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-the-impact-of-the-draghi-report-on-esg-regulation/ https://www.businesseurope.eu/sites/buseur/files/media/position_papers/legal/2024-11-05_joint_trade_association_statement_towards_eu_due_diligence_that_works_for_all_0.pdf https://www.consilium.europa.eu/en/press/press-releases/2024/11/08/the-budapest-declaration/#:~:text=We%20must%20adopt%20an%20enabling%20mindset%20based%20on%20trust%2C%20allowing%20business%20to%20flourish%20without%20excessive%20regulation. https://www.peievents.com/en/event/responsible-investment-forum-europe/ https://www.linkedin.com/posts/tim-lewis-a517261a_last-night-we-gathered-members-of-our-asset-activity-7265398692105314307-376F https://www.traverssmith.com/knowledge/knowledge-container/cs3d-whats-new-and-whats-next/ https://www.traverssmith.com/knowledge/knowledge-container/csrd-the-road-to-compliance https://apps.fliplet.com/esgapp https://www.traverssmith.com/knowledge/knowledge-container/possible-changes-to-the-eu-sfdr-the-european-commission-seeks-views/ https://www.traverssmith.com/knowledge/knowledge-container/esas-propose-changes-to-sfdr-regulatory-technical-standards/ https://www.traverssmith.com/knowledge/knowledge-container/esma-guidelines-on-fund-names/ https://www.consilium.europa.eu/en/press/press-releases/2024/11/19/environmental-social-and-governance-esg-ratings-council-greenlights-new-regulation/ https://www.fca.org.uk/news/statements/fca-welcomes-move-bring-esg-ratings-providers-regulation https://www.newprivatemarkets.com/pe-firms-at-risk-of-esg-litigation-says-travers-smith/ | |||
| Alternative Insights: The UK government's boost to private markets | 29 Nov 2024 | 00:07:03 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at some recent UK government announcements that affect alternative asset managers. Links: https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2024/ https://www.gov.uk/government/speeches/mansion-house-2024-speech https://www.gov.uk/government/news/chancellor-fires-up-financial-services-sector-to-drive-growth#:~:text=BVCA%20Chief%20Executive%20Michael%20Moore%20said%3A%C2%A0 https://assets.publishing.service.gov.uk/media/6735d9ebb613efc3f18230e9/pension_fund_investment_and_the_uk_economy.pdf https://www.gov.uk/government/publications/pensions-investment-review-interim-report https://www.ft.com/content/362ca4cd-a892-4525-bddf-82abe5f339b4#msdynmkt_trackingcontext=910b9634-aa02-4b3a-a831-bcb7e4b55c60 https://assets.publishing.service.gov.uk/media/67372cf9c0b2bbee1a127202/pensions_investment_review_unlocking-the_uk_pensions_market_for_growth.pdf https://www.gov.uk/government/calls-for-evidence/financial-services-growth-and-competitiveness-strategy https://on.ft.com/3V9Tpp8 | |||
| Sustainability Insights: What does COP29 tell us about the UK's green growth ambitions? | 15 Nov 2024 | 00:06:00 | |
In this week's issue of Travers Smith's Sustainability Insights we are looking at what COP29 tells us about the new UK government's green growth ambitions. Links: https://unfccc.int/cop29 https://www.bbc.co.uk/news/articles/cpqd1rzw9r4o https://www.bbc.co.uk/news/articles/cx2lknel1xpo https://www.traverssmith.com/knowledge/knowledge-container/what-to-expect-at-cop29/ https://unfccc.int/process-and-meetings/the-paris-agreement https://unctad.org/publication/new-collective-quantified-goal-climate-finance https://www.bbc.co.uk/news/science-environment-54797743 https://www.ft.com/content/24b994ec-9d69-47df-8c23-efc5762877e9 https://unfccc.int/resource/docs/convkp/conveng.pdf https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-the-role-of-government-in-transition-finance/ https://www.iigcc.org/hubfs/IIGCC%20publishes%20open%20letter%20in%20support%20of%20an%20ambitious%20New%20Collective%20Quantified%20Goal%20on%20climate%20finance.pdf https://www.newprivatemarkets.com/tpg-and-brookfield-hail-climate-fund-momentum/ https://www.bbc.co.uk/news/articles/cx2ny8zndpxo https://www.bbc.co.uk/news/articles/c4gve4d8jljo | |||
| Alternative Insights: Tax rises for UK alternative asset managers | 01 Nov 2024 | 00:06:56 | |
In this week's issue of Travers Smith's Alternative Insights, we are looking at the Labour Government's Autumn Budget, and its likely impact on UK alternative asset managers. | |||
| Sustainability Insights: The role of government in transition finance | 18 Oct 2024 | 00:08:15 | |
In this week's episode of Travers Smith's Sustainability Insights we are looking at the new UK government's approach to transition finance. Links: https://www.gov.uk/government/news/record-breaking-international-investment-summit-secures-63-billion-and-nearly-38000-jobs-for-the-uk https://www.cityam.com/bosses-at-worlds-biggest-banks-britain-is-ready-for-investment/ https://www.gov.uk/government/speeches/pm-international-investment-summit-speech-14-october-2024 https://www.gov.uk/government/news/game-changing-tech-to-reach-the-public-faster-as-dedicated-new-unit-launched-to-curb-red-tape https://www.cityam.com/rachel-reeves-promises-to-revolutionise-uk-capital-markets-and-boost-london-listings/ https://www.gov.uk/government/news/dan-corry-appointed-to-lead-defra-regulation-review https://assets.publishing.service.gov.uk/media/670cde8692bb81fcdbe7b745/industrial-strategy-green-paper-final.pdf https://www.ukib.org.uk/ https://www.british-business-bank.co.uk/finance-providers-equity-finance/british-growth-partnership https://www.linkedin.com/posts/bvca_a-significant-step-forward-for-investment-activity-7251635037433991168-ztWw/ https://www.theglobalcity.uk/PositiveWebsite/media/Research-reports/Scaling-Transition-Finance-Report.pdf https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023H1425 https://www.ft.com/content/c0ca95ce-ffcf-4c10-b789-174e359e16ef https://player.captivate.fm/episode/457a3e0b-8938-43d1-8590-64e33625b7c0/ https://url.uk.m.mimecastprotect.com/s/VBJCC8p4c9q036txt0FyxU-_?domain=sites-traverssmith.vuturevx.com | |||