abrdn Private Equity Opportunities Trust (APEO) is a private equity investment company whose objective is to achieve long-term total returns through holding a diversified portfolio of private equity (PE) funds and direct investments in private companies alongside PE managers (co-investments), a majority of which have a European focus. APEO continues to pursue a concentrated, high-conviction strategy of partnering with top-tier European general partners (GPs), with a strong emphasis on sector expertise. It invests primarily in PE mid-market funds with a typical size of €1.0–5.0bn AUM (and has recently put more emphasis on lower mid-market funds of €150m to €1.0bn).
In this interview, Alan Gauld, senior investment director and lead investment manager of APEO, provides an overview of the company’s investment strategy, its positioning in a recessionary scenario and its dividend outlook. He also explains why investors should look beyond listed equities and expand their portfolios to include PE investments.