F&C Private Equity to boost direct exposure to 25% of portfolio

The Foreign & Colonial Private Equity trust has raised its exposure to co-investments as part of plans to bring direct investments in private equity up to 25 per cent of the overall portfolio.

Co-investments allow the trust to make direct private equity investments, normally carried out alongside one of the private equity funds already featured in the portfolio, giving the F&C Private Equity trust a minority stake in the end company.

The investment company has taken exposure to co-investments up from 11.8 per cent of the overall portfolio to 17.5 per cent during the first half of 2014.

Two new co-investments totalling £5.2m were made over the six month period with £3.3m invested in caravan holiday park operator Park Holidays and £2m in Netherlands-based event ticketing company Ticketscript.

The trust also plans to increase this exposure to direct private equity further to a quarter of the overall portfolio, according to the company’s interim results released today.

F&C Private Equity Trust fund manager Hamish Mair plans to make more direct private equity investments in the remainder of 2014. He says: “The deal flow of co-investments and secondaries is strong, and we expect to add further to both categories as the year progresses.”