Standard Life Private Equity Trust posts “robust” half year results

The Edinburgh-based trust had liquid resources of £81.3 million at the end of March, and made three new fund commitments comprising €30.0 million each to PAI Europe VII, Equistone Partners Europe Fund VI and Bridgepoint Europe VI.

The Company also made two secondary fund purchases, acquiring original commitments of $20.0 million and €15.2 million to North-American based Onex Partners IV and Nordic Capital Fund VIII respectively.

The Board also announced the appointment of Jonathon Bond as an independent non-executive director with effect from 15 June 2018.

Roger Pim, SLPET fund manager, Aberdeen Standard Investments, said: “We continue to see attractive private equity investment opportunities in Europe, however last year the Board allowed us to broaden the investment policy and look further afield globally. In line with this change, we have acquired a position in Onex and are considering a number of US-focused funds.

“Overall, the global private equity market remains competitive, with significant fund raising and capital flowing into the sector. Many of the funds we are invested in continue to report positive earnings growth across their investee companies and we are benefiting from from strong levels of exit activity across the portfolio.”