Regulatory
Shareholder Rights Directive II Disclosure
Mayfair Equity Partners LLP (“Mayfair”) is subject to transparency obligations regarding its policy on shareholder engagement, pursuant to the EU Shareholder Rights Directive II (2017/828/EU), as assimilated into UK law. Under rule 2.2B.5R of the Financial Conduct Authority’s (“FCA”) Conduct of Business Sourcebook (“COBS”), Mayfair is required either (i) to develop and publicly disclose an engagement policy, and how that policy has been implemented in accordance with FCA requirements, or (ii) to publicly disclose the reason for not doing so. For these purposes, an engagement policy must describe how an asset manager integrates shareholder engagement in its investment strategy in relation to companies whose shares are traded on a regulated market.
Mayfair has chosen not to develop an engagement policy because its investment fund strategy is primarily focused on private equity investments. Any investments in shares traded on a regulated market are incidental to Mayfair’s private equity strategy and typically arise in connection with a portfolio company’s initial public offering or take-private transaction. These investments are ancillary to the core private equity strategy. Accordingly, Mayfair does not consider it appropriate or proportionate to adopt a shareholder engagement policy in line with FCA requirements. Mayfair keeps this position under review in light of its investment strategy and fund investments, and keeps its investors informed of any changes via periodic reporting.
Regulatory Warnings
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