Patria Private Equity [PPET] - was APEO

[monabri]

https://www.investegate.co.uk/announcem ... me/8162811

"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.

[monabri]

"PPET!" - That's NOT an instruction to your dog or cat!


From the company of silly names!

[UncleEbenezer]

"PPET!" - That's NOT an instruction to your dog or cat!

Don't some folks call their loved ones "pet"? In my imagination I'm hearing it with a mild Geordie accent.

[DiviLuvva]

PPET is now the biggest investment (11%) in my SIPP+ISA portfolio; all of PPET is in my SIPP.
I couldn't resist dripfeed buying it for a couple of years at circa 30-40% discount whilst I didn't (still don't) need to increase the HYP-type income in the portfolio.
It currently yields 3.2% though.
My last buy was at the end of Nov 2023 and now I'm just content to sit on it.
Any other SLPE-APEO-PPET enthusiasts?

[monabri]

SLPE was once a John Baron pick iirc.

I've a small holding in SLPE>APEO>PPET (hence the notification ).

Clearly there were too many vowels in APEO for Abrdn!

[77ss]

PPET is now the biggest investment (11%) in my SIPP+ISA portfolio; all of PPET is in my SIPP.
I couldn't resist dripfeed buying it for a couple of years at circa 30-40% discount whilst I didn't (still don't) need to increase the HYP-type income in the portfolio.
It currently yields 3.2% though.
My last buy was at the end of Nov 2023 and now I'm just content to sit on it.
Any other SLPE-APEO-PPET enthusiasts?

'Enthusiast' is perhaps a bit OTT, but I have held for some some 7 years now - from SLPE days - and have no immediate intention of selling.

I have topped up in '21,'22 and '24 and it now forms about 4% of my holdings. Enough for the moment I think.

If the discount narrows significantly from the current 30% then my intentions may well change!