F&C Private Equity Trust plc is a United Kingdom-based investment trust. The investment objective of the Company is to achieve long-term capital growth through investment in private equity assets. The Company makes private equity investments by taking stakes in private equity focused limited partnerships, offshore funds, investment companies and investment trusts. In addition to investing in newly formed private equity funds, the Company may also purchase secondary private equity fund interests (that is, portfolios of investments in existing private equity funds). The Company may also make direct private equity investments, mainly through co investment with the funds in which the Company is invested. The investment manager of the Company is F&C Investment Business Limited. F&C Private Equity Zeros plc (FCPEZ) is a wholly owned subsidiary of the Company.