Standard Life Private Equity Trust - Ready to deploy further capital in 2021
Standard Life Private Equity Trust (SLPET) reported an 11.7% NAV TR in FY20 (ending 30 September 2020), driven by its resilient portfolio weighted towards technology, healthcare and consumer staples (c 51% of NAV at end-FY20). Over the period, the company received a healthy £140m from realisations at an average exit multiple of 3.5x (supported by the partial exit from Action). SLPET is well-placed to pursue new deals in 2021, which it expects to be skewed more towards secondaries and co-investments than in the past.Standard Life Private Equity Trust carries on business as an investment trust. The principal focus of Co. is to invest in private equity funds and to manage exposure through the primary and secondary funds markets. Co. invests only in private equity funds, but occasionally may hold direct private equity investments or quoted securities as a result of distributions in specie from its portfolio of fund investments. Co. board has contractually delegated the management of the investment portfolio to the manager, SL Capital Partners LLP.
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