LPEQ has appointed Andrew Lebus, a senior director at alternative asset manager Pantheon, as its new chairman.
A founding board member of LPEQ, Lebus will be the second chairman in the listed PE association’s history. He is to replace Ian Armitage, the former head of UK firm HgCapital until his retirement last year.
His role will focus on raising the awareness of the category among private equity investors across Europe; he will also help recruit new members for the association.
“We are delighted to have someone of Andrew’s stature championing the listed private equity sector,” Andrea Lowe, chief executive of LPEQ, said in a statement. “As an experienced private equity practitioner and fund of funds investor, he has a deep understanding of the private equity and venture capital markets and is highly experience in explaining the sector to a wider investor audience.”
Lebus is currently in charge of coordinating activities at Pantheon International Participations, a London-listed fund of funds, and is also a member of the firm’s Asia investment committee. Lebus joined Pantheon in 1994, after a number of years working for the asset management arm of French lender Credit Lyonnais.
“[Listed private equity] is a model that has been tried and tested through the cycles – my firm has been trading for 26 years and several LPEQ members can trace their roots further back,” added Lebus.
According to LPEQ, the LPX Europe index, which covers all European listed private equity companies deemed sufficiently liquid, is currently posting a 41 percent one-year return and a 142 percent 10-year return. That compares with 16 percent and 83 percent respectively for the MSCI Europe index, which aggregates quotes for large and mid-cap traded stocks across the main markets of the continent.
LPEQ believes performance figures like these will, in time, convince more investors to buy into the listed private equity proposition. “Through LPEQ’s coordinated efforts, more stock market investors will find that private equity is an attainable and desirable part of their investment portfolios,” said Lebus.
LPEQ will now name a new chairman every two years, with successors appointed by the association’s board and ratified by its members.
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