Advent has sold a £46m stake in Trustpilot, marking a partial exit for the private equity firm and triggering a sharp decline in the company’s share price.

The firm offloaded 21.6 million shares at 214p each, a discount to the prevailing market price, sending Trustpilot’s stock down by around 11% following the transaction.

The sale represents a secondary share offering, with Trustpilot receiving no proceeds, highlighting the deal as a liquidity event for the private equity backer.

Advent was part of the consortium that owned Trustpilot prior to its London IPO in 2021 and continues to retain a small residual stake of approximately 250,000 shares.

The transaction reflects ongoing private equity monetisation strategies in public markets, where firms are gradually exiting positions through secondary placements.

Separately, Trustpilot announced the appointment of Marcus Roy as chief financial officer, joining from The Economist Group and set to take up the role in September 2026.

The development underscores continued private equity activity in listed equities, as firms seek to crystallise returns while maintaining optionality through residual holdings.

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