The board felt that this would fully align the company with the investment manager’s rebranded name, abrdn. It will not, however, affect the structure, management or investment strategy of the company.

Additionally, Alan Devine’s appointment to chair of the company came into effect at the close of AGM.

Succeeding Christina McComb who had been chair since 2019, Alan Devine has been an instrumental member of the company’s board since 2014 and senior independent director from January 2019.

Commenting on Christina McComb’s tenure as chair, Alan Devine said: “On behalf of the Board we would like to thank Christina for her time, not just as Chair for the past three years, but also for having been a non-executive director of the Company since 2013.

“Her commitment and work, alongside the investment manager Alan Gauld and the wider abrdn Private Equity team, has guided the Company through multiple challenging investment cycles seeing most recently, this month, its promotion to the FTSE 250.

“We feel sure that this success will continue: private equity remains an attractive area for investment going forward and APEO provides diversified exposure to an attractive sub-segment of the asset class.”