Princess Private Equity appoints Peter McKellar as chair
McKellar is the former global head of private markets at Standard Life Aberdeen, where he was CIO and also led the private equity and infrastructure business.
McKellar currently serves as deputy chair of AssetCo and is a non-executive director of 3i Group. He is also a board member of Scottish Enterprise and vice chair of Investcorp Europe Acquisition Corp.
Previously, he was global head of private markets at Standard Life Aberdeen, where he was CIO and also led the private equity and infrastructure business.
He led the listing in 2001 of Standard Life Private Equity trust, now abrdn Private Equity Opportunities, and was its manager until 2015.
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«I look forward to working with the directors to build out and further strengthen the board, which we envisage will involve the appointment of both UK and European nationals with complementary and relevant skill sets,» McKellar said.
The chair-elect also said that the board was committed in the near term to working with the trust's investment manager, Partners Group, to «enhance engagement with current and prospective shareholders».
The board will also establish a «clear and robust» capital allocation policy appropriate to the PEY's investment strategy, portfolio liquidity, prevailing market conditions, and «particularly the dividend objective, which we recognise is important to many Princess shareholders».
In addition, the board said that Henning von der Forst, who has served as non-executive director since 2012, will not seek re-election at the next annual general meeting, scheduled to be held in June 2024.
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