ICG Enterprise Trust, the listed private equity arm of Intermediate Capital Group, has appointed Jeremy Tigue as chairman, according to a statement.
The decision was made at the firm’s annual general meeting on 13 June.
He replaces Mark Fane, who has stood down from his position as a non-executive director with the Trust after 17 years, eight of which were spent as chairman.
Tigue has been on the board at ICG Enterprise Trust since 2008.
Between 1997 and 2014 he was the fund manager of Foreign & Colonial Investment Trust, which has £3.7 billion ($4.7 billion; €4.2 billion) in assets under management, including significant exposure to private equity.
He is also chairman of life-sciences-focused investment trust Syncona and is a non-executive director of small and medium-sized enterprises specialist Mercantile Investment Trust, Baillie Gifford’s Monks Investment Trust and Standard Life Equity Income Trust.
ICG Enterprise Trust invests in companies managed by ICG directly as well as select private equity managers. In its most recent annual results its share price total return for the year was 31.6 percent and its net asset value per share had a total return of 23.4 percent.
In April a spokeswoman for the Trust told Secondaries Investor that secondaries accounted for 15 percent of its total investments as of the end of 2016, a proportion that was likely to grow. It invested in £17 million in secondaries last year.