Change of Name

abrdn Private Equity Opp Trst plc

29 April 2024

 

abrdn Private Equity Opportunities Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

29 April 2024

Change of Name

The Board of abrdn Private Equity Opportunities Trust plc (the "Company") notes the press release made today by abrdn plc in respect of the completion of the sale of its European-headquartered Private Equity business including the Company's investment manager, abrdn Capital Partners LLP ("abrdn Capital Partners"), to Patria Investments Ltd ("Patria"), a global alternative asset manager (the "Transaction").

As announced at the Company's AGM on 27 March 2024, following an extensive due diligence process, the Board consented to the Transaction by waiving the "Manager Change of Control" provisions set out in the Company's investment management agreement with abrdn Capital Partners. 

The Company will continue to be managed by abrdn Capital Partners (which has been renamed Patria Capital Partners LLP), which is now an indirect subsidiary of Patria. 

With immediate effect:

·      the Company's name will change to Patria Private Equity Trust plc;

·      the Company's registered office will change to 16 Charlotte Square, Edinburgh, EH2 4DF;

·      the Company secretary will change to GPMS Corporate Secretary Limited (an indirect subsidiary of Patria); and

·      the Company's website will change to https://patriaprivateequitytrust.com/

The Company has requested that the FCA and the LSE update their records for the Company's new name and to apply a new ticker (PPET) as soon as practicable, which is expected to take effect on Wednesday, 1 May 2024.

Alan Devine, the Company's Chair, said:

"As I mentioned at the Company's AGM in March, the Board has undertaken extensive due diligence in respect of the Transaction.  We are delighted that the Transaction is not going to result in any changes to: (i) the Company's management and administration services; (ii) the Company's investment management process; or (iii) the personnel managing and servicing the Company. 

The Company will now be known as Patria Private Equity Trust plc to align more closely to the Patria brand. This is an exciting period for the Company as we continue to rely upon the existing attributes of our Manager whilst also reaping the benefits of Patria's wider geographical reach and private equity experience thus enabling us to build upon the Company's growth and performance since its establishment in 2001.

The Board is excited for the next stage of the Company's journey, and what Patria's involvement will bring."

For further information, please contact:

Patria Private Equity Trust plc
Alan Devine (Chair)	via SEC Newgate
The Manager & Company Secretary
Alan Gauld (Lead Manager) Paul Evitt (Company Secretary)	via SEC Newgate via SEC Newgate
Dickson Minto Advisers
Douglas Armstrong	[phone]
SEC Newgate
Sally Walton	[phone] [e-mail]

Notes:

About Patria Investments

Patria is a global alternative investment firm with over 35 years of history and, following completion of the Transaction, has combined assets under management of over $40 billion, and a global presence with offices in 12 cities across 4 continents. Further information is available at www.patria.com.

 

END