Abrdn Private Equity Opportunities (APEO) manager Alan Gauld plans to grow the trust’s number of direct investments, which propelled performance in 2023.
The £1.1bn portfolio of largely European mid-market investments has only been investing in direct private equity opportunities since 2019 when its mandate changed.
Private companies now make up 25% of the portfolio and 19.4% of net asset value (NAV), with the rest of the strategy invested in funds. The number of direct holdings grew to 26 in the year to the end of September, up from 22 in the previous 12 months.