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