*Up until the mid- to late-1970s pension funds in America were prohibited from investing in PE. A clarification of the ‘prudent man’ rule by the U.S. Labor Department in 1978 was needed to radically change that picture.
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*Similar reforms followed in several European countries; in 2003, a total of € 29.1 billion were invested and € 27 billion were raised.
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*The low inflation environment and competitive regime with its open markets have contributed to the transfer of capital to PE funds since the 1990s and to a further market boom.
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Learning a lesson from history.....