BMO Private Equity Trust PLC

Hamish Mair

Managing Director, Head of Private Equity, Private Equity

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The Trust offers access to a diverse spread of private equity investments principally through exposure to specialist private equity funds and co-investments in individual companies. In particular, the fund manager looks to identify those managers with a proven ability to make excellent absolute returns over the medium to long-term. The Trust also aims to provide shareholders with a predictable and above average dividend, funded from a combination of revenue and realised capital profits. 

  • Affordable – save monthly or via lump sums to suit your budget
  • Diversified – one share provides access to a broad range of underlying investments
  • Expertise – specialist private equity investors since 1999
  • Income – attractive level of dividend payable quarterly 
BMO Private Equity Trust PLC is a member of LPeC, for more information please click here.
Hamish Mair - Managing Director Head of Private Equity
Discover how Hamish Mair - Managing Director, Head of Private Equity has climbed his way up from measuring lichens in the Pyrenees to measuring the performance of funds today.


Harnessing potential by direct and indirect investments

The Trust’s investment objective is to achieve long-term capital growth through investment in private equity assets, whilst providing shareholders with a predictable and above average level of dividend funded from a combination of the Trust’s revenue and realised capital profits.
The Trust has the ability to make private equity investments by taking stakes in private equity focused limited partnerships, offshore funds and investment companies. In addition to investing in newly formed private equity funds, the Trust may also purchase secondary private equity fund interests (that is, portfolios of investments in existing private equity funds). The Trust may also make direct private equity investments, mainly through co-investment in specific companies.
The private equity funds in which the Trust invests comprise buy-out funds, venture capital funds and mezzanine funds. Both the funds and the direct investments are selected in order to create an underlying portfolio which is well diversified by geography, sector, size of company, stage of development, transaction type and management style.

Diversified opportunities

In the right hands, a company with an innovative product, the right strategy and a strong brand can significantly grow its business and profitability. Such companies, however, often lie outside of listed markets and are therefore beyond the reach of individual investors. BMO Private Equity Trust PLC offers access to this potent ‘unlisted’ growth potential via specialist proprietary and third party private equity funds and direct investments in companies. BMO’s Private Equity Team has proven expertise in private equity manager selection and direct investment. This expertise, together with a robust approach to investment and an emphasis on quality opportunities, provides scope for long-term capital growth.


Private equity is a more specialist asset class and carries an increased level of risk compared to investing in cash. The principal risks over and above cash investing include:

  • Investment and strategic, external, regulatory, operational, financial and funding risks.
  • Gearing can magnify the negative impact on performance if the market falls.
  • Changes in rates of exchange may have an adverse effect on the value, price or income of investments.
  • Third party private equity funds may restrict or suspend redemptions or repayment to investors.

Investment Risks

The value of your investments and any income from them can go down as well as up and you may not get back the original amount invested. Changes in rates of exchange may also reduce the value of your investment. The fund invests in private equity funds, exposing the fund to the performance, liquidity and valuation issues of these funds. Such funds typically have high minimum investment levels and may restrict or suspend redemptions or repayment to investors. The asset value of these shares and its prospects may be more difficult to assess. Gearing is used for investment purposes to obtain, increase or reduce exposure to an asset, index or investment. The use of gearing can enhance returns to investors in a rising market, but if the market falls the losses may be greater.

Fund Facts and Key Dates

Fund Facts

Investment manager

BMO Investment Business Limited


NAV Total Return

AIC sector

Private Equity

Launch date


Total assets

£350 million (as at 30.06.20)







Ticker symbol

Key Dates

Annual general meeting


Year end

31 December

Dividend payment date(s)

January, April, July and October

The Board

Mark Tennant
Mark is a member of the Advisory Board of T Rowe Price Global Investor Services. He is Chairman of the Centrica Combined Common Investment Fund Limited and the Deputy Chairman and Head of Policy at Scottish Land and Estates. He is also a director of UTI International. Until recently he was a Senior Adviser to J.P. Morgan. He joined the Board in February 2009 and was appointed as Chairman in May 2010.
Elizabeth Kennedy
Chairman of the Audit Committee
Elizabeth is a corporate and commercial lawyer with Davidson Chalmers Stewart with over 30 years’ experience in corporate finance, principally in IPOs, secondary issues and takeovers. She is also a director of Octopus AIM VCT 2 plc, Beatson Cancer Charity and a private technology company and is also a member and past Chair of the AIM Advisory Group of the London Stock Exchange. She joined the Board in July 2007.
David Shaw
Non-Executive Director
David sits on the boards of a number of private companies including acting as Chairman of the charity Dyslexia Scotland. He was previously Chief Executive, then Chairman, of Bridgepoint Capital, a leading European mid corporate private equity firm until his retiral in December 2009. He joined the Board in November 2009.
Swantje Conrad
Non-Executive Director
Swantje began her career in banking at J.P. Morgan in 1991 from where she retired as Managing Director in 2017. During her 26 years at J.P. Morgan, Swantje gained extensive experience in corporate finance/ M&A, global markets and investment management. She previously served as Independent Director of Siemens Gamesa Renewable Energy S.A., a Spanish listed leading global supplier of wind turbine equipment, and as a trustee of the Whitechapel Gallery, London. She was appointed to the Board in April 2017.
Richard Gray
Non-Executive Director
Richard is a career investment banker who has extensive capital markets and corporate finance experience and has held senior positions in London and New York. He is a director of Zeus Capital and has previously worked with Panmure Gordon, Lazard, Charterhouse and UBS. He is a non-executive director of CVS Group plc, a member of the Strategic Board of Banco Finantia, a non-executive director of Alpha Real Capital and Vice Chairman of Invescore Group. He was appointed to the Board in March 2017.
Tom Burnet
Non-Executive Director
Tom is Non-Executive Chairman of Inspired Thinking Group, Non-Executive Chairman of Kainos plc and Non-Executive Chairman of The Baillie Gifford US Growth Trust plc. Previously he served as CEO, Executive Chairman and as a Non-Executive Director of AIM company accesso Technology Group plc. He started his career as an Army Officer serving in the Black Watch (R.H.R.) and is a member of the Queen’s Bodyguard in Scotland.
Audrey Baxter
Non-Executive Director
Audrey has a distinguished career in business and public life. Audrey is currently Chairman and CEO of W. A. Baxter & Sons (Holdings) Ltd and has served previously on the boards of a number of public and private companies, charities and voluntary organisations.

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