Key Takeaways
- • Richard Gray, Chairman of CT Private Equity Trust since May 2022, is retiring in May 2026 after serving on the board since March 2017.
- • Tom Burnet will succeed Gray as Chairman, marking a planned leadership transition at the £549 million investment trust.
- • The retirement announcement aligns with concurrent management changes, including the departure of fund manager Hamish Mair after 26 years, with Andrew Carnwath set to assume the fund management role.
- • Gray's tenure as Chairman spans approximately four years, during which the trust has operated under Columbia Threadneedle management.
Summary
CT Private Equity Trust PLC has announced a planned leadership transition, with Chairman Richard Gray set to retire in May 2026. Gray, who joined the board in March 2017 and was appointed Chairman in May 2022, will be succeeded by Tom Burnet in the role. The succession plan has been formally disclosed to shareholders and represents an orderly handover at the £549 million London-listed investment trust.
Gray's retirement occurs amid broader management changes at the trust. Long-serving fund manager Hamish Mair, who has led CT Private Equity for 26 years, is also retiring in May 2026, with deputy Andrew Carnwath positioned to take over fund management responsibilities. The simultaneous transitions in both the chairmanship and fund management represent a significant reshuffling of leadership at the investment vehicle.
The board has expressed confidence in the continuity of operations under the new leadership structure. According to available board statements, the organization anticipates continuing its investment strategy and performance trajectory under Burnet's chairmanship and Carnwath's fund management. The staggered disclosure of these changes, with announcements made in advance of the May 2026 annual general meeting, suggests the trust has maintained stability in transitioning these key roles.
Gray's retirement occurs amid broader management changes at the trust. Long-serving fund manager Hamish Mair, who has led CT Private Equity for 26 years, is also retiring in May 2026, with deputy Andrew Carnwath positioned to take over fund management responsibilities. The simultaneous transitions in both the chairmanship and fund management represent a significant reshuffling of leadership at the investment vehicle.
The board has expressed confidence in the continuity of operations under the new leadership structure. According to available board statements, the organization anticipates continuing its investment strategy and performance trajectory under Burnet's chairmanship and Carnwath's fund management. The staggered disclosure of these changes, with announcements made in advance of the May 2026 annual general meeting, suggests the trust has maintained stability in transitioning these key roles.
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