SFDR 2.0
A private markets perspective
Christian Schütz, Managing Director and Head of Sustainable Investing at Golding Capital Partners, provides an assessment of the EU’s proposals from a private markets perspective in the interview. His view: while the reform is convincing in its objectives, the current draft does not yet sufficiently reflect key structural characteristics of private markets.
Private equity, private credit, infrastructure and other illiquid strategies are characterised by blind-pool structures, multi-year investment and divestment phases, and limited steerability based on NAV. To ensure that SFDR 2.0 can be implemented effectively and pragmatically in these segments as well, Christian Schütz identifies three key areas where refinements are needed from a private markets perspective.
The interview focuses on
- the implementation of binding exclusion criteria over the entire investment period,
- the application of the 70 per cent alignment threshold to blind-pool strategies with investment and divestment phases, and
- restrictions on sustainability-related disclosures, including for funds targeting professional investors only.
The contribution offers a constructive input to the ongoing regulatory debate and highlights how private markets can continue to play a pivotal role in financing sustainable economic development—provided that SFDR 2.0 is further refined in a pragmatic and market-oriented manner.
The full interview was published on ESGNews.it in January 2026 and is available in both German and English.
