Standard Life European Private Equity Trust saw a threefold increase in income from underlying investments at the fund-of-funds in the six months to end of March, led in part by maturing of the secondary sale market.

The fund received £16.9m (€25.4m) of income, or distributions, from its underlying investments in the six months compared to £5m for the same period last year. Improved economic climate last year helped the fund's income reach record level since it was listed three years ago. Standard Life said it gained from the sale of Riverdeep by Alchemy Partners, Clondalkin by Candover to Warburg Pincus, and CVC Capital Partners' sale of Cementbouw and recapitalisation of Halfords.