Electra Private Equity has confirmed that "after due consideration" it is to bring all management functions in-house, terminate its exclusive relationship with Electra Partners and convert from an investment trust to a corporate structure.

The listed private equity trust, in an announcement on October 14, revealed the results of the first phase of its review, which kicked off in January after activist shareholder Sherborne Investors, led by Edward Bramson, finally won a long-running and bruising boardroom battle in November 2015.