Appointment of New AIFM

30 October 2015

Aberdeen Private Equity Fund Limited

Appointment of New AIFM

Aberdeen Private Equity Fund Limited (the "Company") announces that, following the acquisition by Aberdeen Asset Management PLC ("AAM") of the remaining shares in Aberdeen SVG Private Equity Managers Limited ("ASVG"), the Company will with effect from 30 October be managed by Aberdeen Fund Managers Limited ("AFML").

AFML will also act as the alternative investment fund manager (AIFM) of the Company and will delegate the portfolio management of the company to Aberdeen Asset Managers Limited ("AAML"). ASVG, AFML and AAML are wholly owned subsidiaries of AAM. The change reflects an internal re-organisation within AAM and the same team will continue to be involved in the management of the Company. ASVG has therefore been released and discharged from the Management Agreement made between ASVG and the Company dated 18 July 2014 with AFML becoming party thereto in place of ASVG.