The Walker Guidelines Monitoring Group (GMG) was established to provide oversight on disclosure issues relating to "portfolio companies" that qualify for enhanced reporting and those private equity firms that own them.

The Guidelines Monitoring Group is an independent body that was set up as a direct result of Sir David Walker being asked by the British Private Equity and Venture Capital Association (the "BVCA") and a group of major private equity firms to undertake an independent review of the adequacy of disclosure and transparency in private equity.

All the recommendations arising from this review, Guidelines for Disclosure and Transparency in Private Equity (the "Guidelines"), were published on 20th November 2007.

The Guidelines Monitoring Group (GMG) was recommended in paragraph VI.B of the Guidelines.

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