Proposals to force pension schemes to adopt Solvency II rules have unsettled figures in the private equity industry, with many concerned about the consequences of a significant drop in capital commitments from pension funds.

Executives working in firms within the industry and at trade body the European Private Equity and Venture Capital Association, EVCA, have voiced concerns that proposed changes to the Institutions for Occupational Retirement Provision directive may lead to an exodus of pension fund investment in the asset class.