UK listed financial services company Alliance Trust’s exit from private equity fund investment is nearing its end following the sale of interests in a further three managers in its portfolio. The group chose to wind down the division last March following pressure from activist shareholders.

According to a person close to the situation, Alliance, one of the UK's largest-listed investment trusts, sold its remaining interests in the UK mid-market managers August Equity and Silverfleet Capital shortly before Christmas while the sale of its interest in UK growth capital firm Alcuin Capital was completed in October.