PPET Board Succession Directorate change

Patria Private Equity Trust PLC

25 March 2026

 

Patria Private Equity Trust plc

Legal Entity Identifier (LEI): 2138004MK7VPTZ99EV13

PPET board succession: Duncan Budge succeeds Alan Devine

The Board of Patria Private Equity Trust plc (the "Company" or "PPET") is pleased to announce that, following the conclusion of the Company's AGM which took place on 25 March 2026, Duncan Budge has been appointed Chair of the Board, succeeding Alan Devine who steps down from his role as Director and PPET Chair.

Alan, who has been a Director of the Company since 28 May 2014, first assumed the role of Chair of the Board on 22 March 2022.

During Alan's tenure as Chair, the Company delivered strong performance for shareholders, with the share price increasing over 35% and the discount to NAV narrowing by 11.2%. Over this period, PPET also evolved its strategy towards growing its direct investment allocation and increasing its focus on mid-market private businesses.

Duncan Budge first joined the Board on 1 February 2025. He will continue to serve as a Member of the Audit Committee, Nomination Committee and Management Engagement Committee following his appointment as Chair. 

Alan Devine, outgoing Chair, said:

"It has been a privilege to serve the interests of PPET shareholders during the evolution of both our portfolio and our Manager.  I extend my thanks and appreciation to both my fellow Board members and the investment management team for their dedication and expertise in navigating a complex market landscape, positioning PPET for sustained success. I am delighted that Duncan Budge will be taking over me from as Chair of the Board. He is a worthy successor given his extensive experience as a chair and in the private equity sector and I will continue to support PPET's growth and future success as a shareholder."

Duncan Budge, Chair of the Board, said:

"I would like to thank Alan for his strong leadership and contribution to PPET's success, particularly during his time as Chair. I look forward to working closely with the Board and the Manager as we continue to focus on governance, performance and long‑term value creation for PPET shareholders."

For further information please contact:

Patria Private Equity Trust plc
Rebecca Matts, PPET Investor Relations	[e-mail]
SEC Newgate
Sally Walton	[phone]

Notes:-

Patria Private Equity Trust plc is an investment company managed by Patria Capital Partners LLP, the ordinary shares of which are admitted to listing by the UK Listing Authority and to trading on the Stock Exchange and which seeks to conduct its affairs so as to qualify as an investment trust under sections 1158-1165 of the Corporation Tax Act 2010.

Additional detail about PPET's NAV and investment diversification can be found on PPET's website (www.patriaprivateequitytrust.com). Neither the contents of the Company's website nor the contents of any website accessible from hyperlinks on the Company's website is incorporated into, or forms part of, this announcement.

 

END