Travers Smith's Alternative Insights: More turbulence in the year ahead

This week we are taking a special look at the issues that will shape private capital in the year ahead. You can read our full analysis of those legal, regulatory and tax headwinds in our new publication Insights 26.Links:PEI Group datapartner for growthInsights '26the Corporate Sustainability Due Diligence Directivethe Corporate Sustainability Due Diligence Directivesecuritisation regimeharmonise trade reportingAIFMD IIUK AIFMDclient categorisation rulesnational security deal notificationmerger controlsstart, scale, and stay in the UKcontroversial proposal401(k) investment into alternative assetsEU AI ActInsights ’26

In his week's issue of Travers Smith's Sustainability Insights, we are looking at the agreed reforms to the EU's sustainability disclosure rules.Links:our detailed briefing2021 impact assessment

In this week's issue of Travers Smith's Alternative Insights, we are looking at the Commission's SFDR proposal fails to deliver clarity.Links:https://www.traverssmith.com/knowledge/knowledge-container/finalised-sfdr-20-proposals/https://www.traverssmith.com/knowledge/knowledge-container/possible-changes-to-the-eu-sfdr-the-european-commission-seeks-views/https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-what-will-sfdr-20-look-like/

In this week's issue of Travers Smith's Alternative Insights, we are looking at the UK's strategy for private capital in the wake of the latest budget.Links:https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-impact-of-uk-tax-policy/https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025/https://www.traverssmith.com/knowledge/knowledge-container/autumn-budget-2025-private-capital/https://www.fnlondon.com/articles/rachel-reeves-private-equity-will-be-key-to-growth-push-95c10a9ahttps://assets.publishing.service.gov.uk/media/68595e56db8e139f95652dc6/industrial_strategy_policy_paper.pdfhttps://www.bvca.co.uk/static/e07847be-bbcc-4b7e-a201d5d182700aca/BVCA-Response-to-Invest-2035-The-UKs-Modern-Industrial-Strategy.pdf

In this week's issue of Travers Smith's Alternative Insights, we are looking at European fund labels.Links:https://www.traverssmith.com/knowledge/knowledge-container/draft-sfdr-20-proposals/https://www.traverssmith.com/knowledge/knowledge-container/sustainability-exchange-podcast/https://uksif.org/uksif-pwc-report-uk-sdr-and-investment-labels-implementation-lessons-and-the-road-ahead/

In this week's issue of Travers Smith's Alternative Insights, we are looking at the long term implications of the development of fund tokenisation. Links:https://www.fca.org.uk/publication/consultation/cp25-28.pdfhttps://www.traverssmith.com/knowledge/knowledge-container/fca-measures-to-support-direct-2-fund-dealing-and-fund-tokenisationhttps://www.theia.org/sites/default/files/2023-11/UK%20Fund%20Tokenisation%20-%20A%20Blueprint%20for%20Implementation.pdf

In this week's issue of Travers Smith's Sustainability Insights we are looking at human rights due diligence and defence investments.Links:https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-private-markets-and-policy-goals/https://www.traverssmith.com/knowledge/knowledge-container/sustainability-and-security-investing-in-defencehttps://defence-industry-space.ec.europa.eu/eu-defence-industry/defence-readiness-omnibus_enhttps://data.consilium.europa.eu/doc/document/ST-12811-2025-INIT/en/pdfhttps://www.rusi.org/explore-our-research/publications/insights-papers/are-esg-standards-scapegoat-stalling-defence-growthhttps://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-sustainability-insights-investing-in-europes-defence/https://docs.google.com/document/d/1WpGBd6s2-MO5YQw4nVDtiH0av5TjSCMfOoIDrupHLlY/edit?tab=t.0https://www.europeandefense.org/https://www.ohchr.org/sites/default/files/2022-08/BHR-Arms-sector-info-note.pdfhttps://www.americanbar.org/groups/human_rights/reports/defense-industry-human-rights-due-diligence-guidance/

In this week's issue of Travers Smith's Alternative Insights, we are looking at public private markets and how asset managers can influence them.Links:https://www.msn.com/en-gb/money/video/80-of-draghi-investment-ask-will-come-from-private-capital-says-kkr/vi-AA1NlSifhttps://www.cityam.com/rishi-sunak-assures-city-that-bonfire-of-financial-services-regulations-post-brexit-is-around-the-corner/https://www.british-business-bank.co.uk/news-and-events/news/british-business-bank-response-autumn-budget-2024https://www.british-business-bank.co.uk/finance-options/british-growth-partnershiphttps://www.bvca.co.uk/policy/nova.htmlhttps://www.lse.ac.uk/events/openhttps://www.fmg.ac.uk/isf/blended-finance-labhttps://www.bankofengland.co.uk/-/media/boe/files/speech/2015/building-real-markets-for-the-good-of-the-people.pdf

In this week's issue of Travers Smith's Alternative Insights, we are looking at transition plans in the UK.

In this week's issue of Travers Smith's Alternative Insights, we are looking at transatlantic tax policy and the art of the deal.Links:https://www.traverssmith.com/knowledge/knowledge-container/travers-smiths-alternative-insights-the-impact-of-uk-tax-policy/https://www.traverssmith.com/knowledge/knowledge-container/new-uk-carried-interest-tax-regime-draft-rules-published/https://www.traverssmith.com/knowledge/knowledge-container/new-uk-carried-interest-tax-regime-draft-rules-published/