Advent has sold a £46 million stake in Trustpilot through a secondary share offering, offloading 21.6 million shares at 214p each. The transaction triggered an 11% decline in Trustpilot's stock price as the shares were sold at a discount to market value. This marks a partial exit for the private equity firm from its position in the online review platform.

Trustpilot received no proceeds from the sale, which serves as a liquidity event for Advent. The private equity firm was part of the consortium that owned Trustpilot before its 2021 London IPO and retains a small residual stake of approximately 250,000 shares. The discounted share sale reflects broader private equity monetisation strategies in public markets.

Separately, Trustpilot announced the appointment of Marcus Roy as chief financial officer, joining from The Economist Group in September 2026. The development highlights ongoing private equity activity in listed equities as firms gradually exit positions through secondary placements while maintaining optionality through residual holdings.