Key Takeaways
- • Neuberger Private Equity Partners Limited (NBPE), a $1.1bn FTSE 250-listed private equity investment company, appoints David MacLellan as independent Non-Executive Director and Chairman Designate effective September 23, 2026.
- • MacLellan brings 35+ years of private equity and fund management experience, serving as Founding Partner and Chairman of RJD Partners and Non-Executive Chairman of Custodian Property Income REIT plc.
- • MacLellan will assume the Chairman role on December 11, 2026, succeeding William Maltby, who has served as Chairman since September 2019, following a structured three-month transition period.
- • The appointment includes board committee assignments to the Nomination & Remuneration Committee and Management Engagement Committee, reinforcing governance continuity during leadership transition.
- • MacLellan's broader board portfolio spans investment trusts (Lindsell Train, Aquila European Renewables) and infrastructure funds, bringing diversified investment expertise to NBPE's governance structure.
Summary
Neuberger Private Equity Partners Limited has announced the appointment of David MacLellan as an independent Non-Executive Director and Chairman Designate, effective immediately as of September 23, 2026. The $1.1bn FTSE 250-listed investment company, which is managed by Neuberger, has conducted a comprehensive board succession search to identify MacLellan as the next leader of the organization. Wilken von Hodenberg, Senior Independent Director of NBPE, affirmed the board's confidence in the appointment, stating the firm is "very pleased to appoint David as a Non-Executive Director and Chairman Designate."
MacLellan brings substantial credentials to the role, with more than 35 years of experience in private equity and fund management alongside considerable investment trust expertise. He currently serves as Founding Partner and Chairman of RJD Partners and holds the Non-Executive Chairman position at Custodian Property Income REIT plc. His broader directorate portfolio includes Non-Executive Director roles at The Lindsell Train Investment Trust plc, Aquila European Renewables plc, and J&J Denholm Limited. Prior to his current positions, MacLellan served as Non-Executive Chairman of Stone Group, Chairman of John Laing Infrastructure Fund, and Group Managing Director of Murray Johnstone Limited, demonstrating a track record across infrastructure, real estate, and traditional asset management.
The leadership transition is structured methodically, with MacLellan taking the full Chairman role on December 11, 2026, following a three-month transition period with the outgoing Chairman William Maltby. Maltby has held the Chairman position since September 2019, having initially joined the NBPE Board in March 2019. Caroline Chan, Chair of the Nomination & Remuneration Committee, led the comprehensive board search process. MacLellan's committee assignments include the Nomination & Remuneration Committee and the Management Engagement Committee, positioning him to influence governance, compensation strategy, and manager oversight immediately upon board entry.
MacLellan brings substantial credentials to the role, with more than 35 years of experience in private equity and fund management alongside considerable investment trust expertise. He currently serves as Founding Partner and Chairman of RJD Partners and holds the Non-Executive Chairman position at Custodian Property Income REIT plc. His broader directorate portfolio includes Non-Executive Director roles at The Lindsell Train Investment Trust plc, Aquila European Renewables plc, and J&J Denholm Limited. Prior to his current positions, MacLellan served as Non-Executive Chairman of Stone Group, Chairman of John Laing Infrastructure Fund, and Group Managing Director of Murray Johnstone Limited, demonstrating a track record across infrastructure, real estate, and traditional asset management.
The leadership transition is structured methodically, with MacLellan taking the full Chairman role on December 11, 2026, following a three-month transition period with the outgoing Chairman William Maltby. Maltby has held the Chairman position since September 2019, having initially joined the NBPE Board in March 2019. Caroline Chan, Chair of the Nomination & Remuneration Committee, led the comprehensive board search process. MacLellan's committee assignments include the Nomination & Remuneration Committee and the Management Engagement Committee, positioning him to influence governance, compensation strategy, and manager oversight immediately upon board entry.
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