ABRY UK Limited
MIFIDPRU Remuneration Disclosures
ABRY UK Limited (the “Firm”) is authorised by the FCA (FRN: 834466) as a MiFID investment firm and is subject to the requirements of the Investment Firms Prudential Regime (IFPR).
These disclosures are made for the purposes of meeting the Firm’s public disclosure requirements set out in MIFIDPRU 8 of the FCA’s Handbook. The Firm is classified as a ‘small non-interconnected firm’ (SNI) for the purposes of MIFIDPRU.
The Firm’s sole activity is to provide investment advisory and related services to ABRY group affiliates. The ABRY group manages private equity funds that invest in middle market companies in the communications, media, information and business services industries and related businesses.
The Firm takes a group approach to remuneration and staff are awarded compensation on that basis rather than solely in relation to the services they provide to the Firm.
The Firm’s remuneration policy is designed to be consistent with the business strategy, objectives and long term interests of the Firm, the ABRY group and the ABRY funds. Remuneration decisions for staff are made annually. Remuneration consists of a fixed base salary and an annual variable bonus. Bonuses are discretionary and, while the financial performance of the ABRY group is a key factor, decisions are based on an overall view of individual performance taking into account a number of factors including both financial and non-financial objectives. These factors do not have specific weightings and the amount awarded does not directly correspond to any specific performance measure. The Firm does not use fixed formulas or benchmarks to determine bonuses. The Firm also takes into account market conditions and appropriate comparators when setting remuneration. Individuals are not involved in setting their own remuneration.
Responsibility for the Firm’s remuneration policy and its oversight rests with the Firm’s board of directors, which receives input from ABRY group senior management and HR.
Certain quantitative information on the remuneration awarded to staff in the current financial period is available from the Chief Compliance Officer ([email protected]).