TriVen, one of only two VCTs hitherto presided over by a triumvirate of fund managers, is to pass control of its entire portfolio of Matrix Private Equity as it bids to ‘streamline’ its structure and ‘improve shareholder returns.’

TriVen, one of only two VCTs hitherto presided over by a triumvirate of fund managers, is to pass control of its entire portfolio of Matrix Private Equity as it bids to ‘streamline’ its structure and ‘improve shareholder returns.’

Matrix has, for some time now, controlled the majority of the portfolio with the remainder being overseen by Elderstreet Private Equity and Nova Capital. However, with the latter having now realised all its investments and Elderstreet’s interest down to less than 15 per cent both have tendered their resignations with immediate effect.

Matrix is planning a further fundraising for the trust, with portfolio director Mike Walker hinting that ‘we are scheduling to do something later in the year, perhaps around November.’

A change of name is also on the cards. ‘We will almost certainly re-brand TriVen under the Matrix Income & Growth banner,’ Walker elaborates.