Sass breaks the silence: Equity funds deserve praise

recent weeks, the country's private equity funds have been udskreget as greedy tax evaders, who hide away money overseas.

TV2 started shitstormen with an article on that kapitalfondsejede companies like Lagkagehuset, Babysam and Sportmaster has received a state salary of millions of dollars, even though they are owned through tax havens like Jersey and Luxembourg.

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After nearly 20 years in the Danish Parliament for the Social democrats was Henrik Sass Larsen at the turn of the year appointed as adm. director of kapitalfondenes the industry association, DVCA. Photo: Stine Tidsvilde

Henrik Sass Larsen is the director of the kapitalfondenes trade association DVCA. But despite its status as toplobbyist he has so far stayed out of the public debate.

the Silence has engendered criticism from several private equity funds, but now he takes the final leaf from the mouth.

'the Whole story is set in the time of a controversial skatteekspert, who has created his very own definition of a tax haven, contrary to the EU's black list which is the, the Danish government uses, and in the background is my members have been vilified as tax evaders. It is not fair, and my members deserve instead of praise, in order to draw international capital to Denmark, which will be invested in Danish workplaces,' says Henrik Sass Larsen, in a written comment.

The former socialist minister breaks his silence after that Extra the Magazine has confronted him with criticism from his own members.

A number of kapitalfondschefer, all of which are members of the DVCA, has thus facing Extra Magazine expressed wonder over Henrik Sass Larsen's lack of participation in the debate on tax havens.

- It is very strange. It is no difficult matter to explain, for it is about fully legitimate selskabskonstruktioner. So the silence amazes me really, says a kapitalfondsleder, who do not want to come forward with the name.

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Henrik Sass Larsen was by many identified as an obvious bid for a minister of finance in Mette Frederiksen's government. Instead he was then a lobbyist for the country's capital - and venture capital funds. Photo: Jens Dresling

In Henrik Sass Larsen at the beginning of the year was named as a lobbyist, he had several times marked by tough to criticise the voluptuous bonus packs and aktieprogrammer to the country's ceos.

- We should probably just accept that he – because of his past - can't stand up and defend the business structures right now. He had been slaughtered completely, says another kapitalfondschef and continues:

- But the big question is: When can Henrik Sass Larsen, to assume the role of the public, as he is employed for? At one point he must face the music, and we can't wait much longer.”

It is not only Henrik Sass Larsen's own members, as have missed him in the debate on the companies in the tax havens.

Robert Spliid is external associate professor at CBS and has written books on private equity funds. He also wondered DVCA-the director's absence.

the industry Association for venture and private equity funds in Denmark.

Among the members are Goldman Sachs, EQT and Altor.

DVCA's agenda is to create growth and prosperity, ensuring an attractive investment environment, and strengthening members ' business.

the Organization was founded in 2000 and has, since the new year had Henrik Sass Larsen as adm. director.

I had thought that he had signed up for the longest time. But it seems as if he has no desire to interfere in this matter. Whether it is rooted in his political past, I don't know, says Robert Spliid.

He believes that the debate is complex, and that it is important to address all sides of the matter.

- Why have I missed DVCA's input. But it may well be that the silence is due to that the organization has a director, which, because of its political past can't lean too far out of the window, he says.