Are you asking about Apax Global Alpha or Subject Private equity? I’m a little confused @baughwood
Standard Life private equity is a fund of funds trust that recently changed its investment mandate away from Europe only. It is one of my top picks for the sector, because it has a good management team who have delivered good returns over the medium to long term.
The dividend they’ve introduced is an attempt to reduce the discount, which is stubbornly high for listed private equity generally. The dividend will paid out of a mixture of income and capital profits. Personally I am not a fan of dividends from private equity funds, I’d prefer that they used the money to invest or if they cant find anything suitable return capital to shareholders.
They’ve also reduced fees by getting rid of the performance fee, though the management fee has gone up from 0.85% to 0.95%.