abrdn Private Equity Opportunities chair granted tenure extension to oversee Patria merger

Alan Devine

Eve Maddock-Jones
clock • 2 min read

abrdn Private Equity Opportunities trust chair Alan Devine is set to hold onto his position despite reaching the tenure limit, to help the managers navigate the firm's takeover by Patria.

In the trust's financial results for year to 30 September 2023, the board said that although the trust's usual procedure is for a chair to step down after nine years, Devine has been asked to remain for an additional period to "oversee the transition of the Patria transaction and support the manager as it embeds into Patria". abrdn Private Equity Opportunities embarks on share buyback programme In October 2023, abrdn sold its PE business for £100m to Patria Investments, following a "strategic review" of its alternatives wing. The APEO trust team is set to remain "unchanged" followi...

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