Meet the Manager

Ian has twenty-five years of finance experience encompassing private equity investment and portfolio management, leveraged senior debt lending, corporate restructuring and small business ownership. He now manages Henderson Equity Partners' private equity fund of funds portfolios. He joined Henderson Equity Partners in 2005 having previously worked for Citigroup and Charterhouse Bank Limited. Ian has a BA (Hons) in Modern History from Oxford University.

Fund Manager's Commentary - April 2012

HPEQ reported its 31 December 2011 full-year results in April. In last year's Portfolio Manager's Investment Review, the execution of the Company’s Realisation Strategy was described as a key priority for the portfolio manager. It is therefore gratifying to record that by 31 December 2011, eight private equity investments were transferred or sold, comprising five unlisted limited partnership interests, one unlisted direct investment and two listed holdings. Proceeds of £30.9 million were generated from these sales at values that met or exceeded expectations.

Furthermore, the Company’s net asset value (NAV) per share increased 21.7% over 2011 and the Company’s share price also performed strongly during the year, rising by 44.0%. The Company’s share price discount to NAV per share continued to narrow to 20.6% by the end of 2011, comparing favourably with 33.0% as at 31 December 2010.

The portfolio manager has completed five further disposals since the year end and has others nearing completion. It is currently anticipated that a further return of cash to shareholders will be announced within the next few months.