The Schroder UK Public Private Trust (SUPP) has invested close to £14m in financial app Revolut in its second private equity investment since it took over management from Neil Woodford in 2019.
Formerly the Woodford Patient Capital trust, the latest investment is said to be a “clear demonstration of the continued progress towards rebalancing the portfolio,” according to the Schroders’ team, comprised of Tim Creed (pictured) and Ben Wicks.
In May, the managers of the £470.5m trust made an investment in private cybersecurity company Tessian, marking the first non-Woodford legacy holding.
The managers said Revolut, as the most high-profile fintech company to emerge in the UK, is “at the forefront of Europe’s nascent fintech revolution”.
According to the Association of Investment Companies’ website, the trust is currently trading on a 20% discount to its net asset value.
