Welcome to PE Trust Club
Private equity, within reach of the stock market.
Investing in unlisted companies by buying a single share: that is what private equity trusts make possible.
You still need to understand how they work.
Understand
What is a private equity trust ?
It is a listed company that holds stakes in unlisted companies.
Buying one of its shares means indirectly owning a piece of that portfolio. The model is British: the first investment trust was launched in London in 1868.
3 ideas to start with
Private companies, through the stock market
The trust invests in companies that are not listed. The trust’s own shares, however, are listed.
No need to wait ten years
Its shares trade continuously every day, like any other share or ETF.
Two prices for the same asset
The value of the portfolio (the NAV) and the share price almost never match. That is where the subtlety lies.
The learning path
Understanding comes first
PE Trust Club is a place to share knowledge about an asset class that is still little known in France. We break down how it works, follow the sector’s news and exchange views between the curious and the experienced.
We do not make recommendations or give investment advice.
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Keep up with Private Equity trends
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What you will find here
A learning path
From the definition to reading an annual report, in three levels.
The news
Publications from the sector, summarised and explained.
The Letter
Every month, the essentials in five minutes.
Our ground rules
We explain, we decode.
No recommendations, no opinion on any stock.
We document everything.
Every article is dated and refers to public information or to its source.
We stay humble.
Any error reported is corrected, and every page shows the date it was last updated.
Our sources
Documents published by the trusts (annual reports, press releases, NAV announcements) and data from the sector’s professional associations. Every concept is given in French and in English, the language of the market.
Our experience and knowledge of this world allow us to share our view and our reading of the news, to help you become familiar with this specific asset class.
news
Latest posts
Oakley Capital Investments cedes £257m of funds on the secondary market : what the price reveals
OCI sold part of its portfolio in Oakley funds to Carlyle AlpInvest, 5.75% below carrying value, while its shares traded at a 38% discount to NAV.
October 29, 2026
Tender offers : RIT Capital Partners and HVPE return capital below NAV
RIT Capital Partners bought back £300m of shares through a tender offer; HVPE is offering $400m. How does a tender offer work?
October 23, 2026
When a sale reveals a portfolio’s value: the HgCapital Trust case
HgCapital Trust sold Gen II Fund Services 34% above its latest valuation. Why a sale is the real test of a trust’s NAV.
October 22, 2026
Stay informed
Keep up with Private Equity trends
Sign up for our newsletter to receive news, alerts, and everything you need to know by following the PE Trust Club