6 July 2018
Transparency Ranking: Board of Creon Energy Fund ranks among the top 50 in Europe
Professionalism, experience, transparency – these are the values that Creon Capital stands for in Luxembourg. This is now confirmed by an independent ranking on the quality of Board compositions: Out of 2191 Alternative investment funds under European jurisdiction, whose management structures the London-based consulting firm IFI Global had examined, the Board of Creon Energy Fund achieved a top 50 ranking. The Sicav-SIF Fund managed by Creon Capital is listed in the “AA” category and ranks alongside with well-known funds from 3i, Blackrock and Blackstone.
IFI Global justifies the top placement of Creon Energy Fund with the “broad and impressive range of five individuals acting as directors”. Criteria for the rating were the board members’ professional background, as well as their experience and how one’s knowledge complements to others. The availability and transparence of this information was also crucial. The latter is not a matter of course, according to the findings of the study published in the monthly newsletter “The NED”: “A common feature of fund boards is to include big name directors, presumably to help capital raising”, says the study. However, this does not always mean that these people also play an active role in management.
Transparency is a weak point of many funds. There are funds under European jurisdiction that disclose “the bare minimum” of information about directors, so that the regulatory requirements are met. The researchers of IFI Global’s “The NED Risk and Governance” assessed a large variety of levels of professionalism on fund boards. It is the rankings goal to encourage funds with weak boards to improve them.
For Creon Capital and the Creon Energy Fund, the positive rating result is a confirmation, said Board Chairman Dr. Fares Kilzie: “Since the founding of the fund, we have relied on proven industry and country experts who understand their areas of responsibility better than anyone else. This is the only way we can work together with our partners to bring ongoing investment projects to success and create real value.”