iPEIT, or the Initiative for Private Equity Investment Trusts, has rebranded as Listed Private Equity, or LPEQ, as its membership base now extends beyond investment trusts listed on the London Stock Exchange.
LPEQ was originally created in 2006 to stimulate investor interest in the listed private equity investment trust sector. Since its formation it has extended its membership and remit to include vehicles listed on other European exchanges.
LPEQ’s membership roster now comprises around 13 vehicles, including Frankfurt-listed Deutsche Beteiligungs and Princess Private Equity, the London- and Frankfurt-listed vehicle of Partners Group.
The organisation is currently chaired by HgCapital boss Ian Armitage.
Listed private equity has had a difficult time gaining recognition and understanding among investors, particularly smaller institutions such as wealth management firms, said a spokesman for the group.
Standard and Poor’s S&P Listed Private Equity index, which covers 30 listed private equity companies, has lost around 66 percent of its value in the last 12 months. This compares to a 43 percent loss on the S&P Global 100 during the same period.
Last week American Capital announced plans to delist its London Stock Exchange-traded affiliate European Capital due to the firm's share price consistantly trading at a discount to its net asset value.