What is Patria Private Equity Trust?

Managed by Patria Capital Partners LLP, part of Patria Investments. PPET is a listed way into Investments in companies that are not publicly traded (i.e. listed on a stock exchange). , an asset class that is normally out of reach for everyday investors because it needs scale, specialist expertise and long holding periods. The Trust holds a The process of spreading your investment portfolio across different asset classes, such as partially in shares and partially in bonds, in order to reduce risk. portfolio of private equity funds and direct co-investments into private companies, principally focused on the European mid-market: established, profitable businesses. It was previously known as abrdn Private Equity Opportunities Trust, and before that Standard Life Private Equity Trust.

Patria Private Equity Trust (PPET) is a 25-year-old investment trust that focuses on the private equity mid-market. By investing in PPET, investors get exposure to a portfolio that includes more than 700 separate private companies, with the benefits of quarterly dividends and no performance fee, in a single tradable share.

Patria Private Equity Trust

Why is it rated by Boring Money?

Originally founded in Brazil in the 80s, Patria manages private equity, infrastructure and real estate assets.

They are less well-known to UK retail investors than other global names but acquired the European private equity business of Aberdeen which is now managed under the UK-listed Patria Private Equity Trust.

The trust has risks investors should consider. The act of borrowing money to fund a company's operations. It can be expressed as a ratio, where the cost of the borrowed amount is compared to the overall value of the company - this is called the gearing or leverage ratio. sits at around 17% which can make good times better and bad times worse. And the trust is also trading at a discount of around 30% - as are most private equity trusts. However on the plus side, the trust offers a The process of spreading your investment portfolio across different asset classes, such as partially in shares and partially in bonds, in order to reduce risk. route to owning about 700 interesting privately owned companies in Europe and pays A cash bonus shareholders get in return for investing in something. Dividends can be paid out on a monthly, biannual or annual basis. of about 3% a year, on a quarterly basis.

They buy into companies directly and also buy a collection of private equity funds too. The focus is on mid-sized European firms and they will offer up a very different collection of stocks to the typical components of a retail investor’s portfolio. Performance has lagged the US tech darlings in the last 12 months but for some this will be a welcome diversifier for concentrated portfolios.

Holly MackayCEO and Founder, Boring Money

Patria Private Equity Trust (PPET)

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How has Patria performed?

1-year Cumulative Performance	3-year Cumulative Performance	5-year Cumulative Performance	10-year Cumulative Performance
12.1%	52.8%	55.2%	237.8%
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1-year Cumulative Performance	3-year Cumulative Performance	5-year Cumulative Performance	10-year Cumulative Performance
12.1%	52.8%	55.2%	237.8%

All data herein is sourced from FE fundinfo and is correct as at end August 2026. Boring Money is not responsible for any data discrepancies.

Why look at it now?

PPET lets you own established, profitable European private companies, which you can't normally buy, through one share listed on the London Stock Exchange. Leading managers pick the companies, and the trust spreads its money across new funds, second-hand fund stakes and direct deals. Its shares often trade below the value of its holdings, so you can buy in at a discount and get both growth and dividends.

What is the risk rating for PPET?

We rank this at 5/5 on our For a guide on how spicy any trust is, we use FE fundinfo’s Risk Score and sort the trusts into one of our 5 chilli bands. Cash would be no chilli. A non-volatile smooth trust would be 1 or 2. The FTSE 100 would clock in as 4 chillies. Anything very volatile and spicy is a 5..

Private equity sits high on the risk scale. The underlying holdings are illiquid and valued with a lag; the Trust uses The act of borrowing money to fund a company's operations. It can be expressed as a ratio, where the cost of the borrowed amount is compared to the overall value of the company - this is called the gearing or leverage ratio. , and the share price can swing to a wide discount, or occasionally a premium, against the value of the portfolio. Best held as a long-term, smaller part of a diversified portfolio.

Where does PPET invest?

What sectors does Patria invest in?

Led by technology, particularly semiconductors, alongside financials and consumer names.

What are the top holdings?

The top 100 companies represent 59.1% of the portfolio A measurement used to describe the current value of an investment at a moment in time. It's calculated by taking the overall value of a company's total assets and subtracting its total debts or liabilities. It can be expressed as price-per-share by further dividing this figure by the total number of shares. and generated average Also known as Earnings Before Interest, Taxes, Depreciation and Amortisation. This measures the company's overall financial performance. growth of 13.4% in the twelve months to 31 March 2026. Most portfolio companies are profitable, cash-generative, and are among market leaders within their respective sectors.