<TABLE> <S> <C>

<ARTICLE>        6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION FROM UST PRIVATE EQUITY
INVESTORS FUND, INC.'S FORM 10-Q FOR THE PERIOD ENDED JANUARY 31, 2000 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>    1000

<S>                                                       <C>
<PERIOD-TYPE>                                                    3-MOS
<FISCAL-YEAR-END>                                          OCT-31-2000
<PERIOD-START>                                              NOV-1-1999
<PERIOD-END>                                               JAN-31-2000
<INVESTMENTS-AT-COST>                                           48,880
<INVESTMENTS-AT-VALUE>                                          59,282
<RECEIVABLES>                                                      298
<ASSETS-OTHER>                                                     267
<OTHER-ITEMS-ASSETS>                                                 6
<TOTAL-ASSETS>                                                  59,853
<PAYABLE-FOR-SECURITIES>                                             0
<SENIOR-LONG-TERM-DEBT>                                              0
<OTHER-ITEMS-LIABILITIES>                                       12,227
<TOTAL-LIABILITIES>                                             12,227
<SENIOR-EQUITY>                                                      0
<PAID-IN-CAPITAL-COMMON>                                        39,385
<SHARES-COMMON-STOCK>                                               40
<SHARES-COMMON-PRIOR>                                               40
<ACCUMULATED-NII-CURRENT>                                          525
<OVERDISTRIBUTION-NII>                                               0
<ACCUMULATED-NET-GAINS>                                         (2,686)
<OVERDISTRIBUTION-GAINS>                                             0
<ACCUM-APPREC-OR-DEPREC>                                        10,402
<NET-ASSETS>                                                    47,626
<DIVIDEND-INCOME>                                                    0
<INTEREST-INCOME>                                                  138
<OTHER-INCOME>                                                       0
<EXPENSES-NET>                                                     179
<NET-INVESTMENT-INCOME>                                            (41)
<REALIZED-GAINS-CURRENT>                                           119
<APPREC-INCREASE-CURRENT>                                        7,253
<NET-CHANGE-FROM-OPS>                                            7,331
<EQUALIZATION>                                                       0
<DISTRIBUTIONS-OF-INCOME>                                            0
<DISTRIBUTIONS-OF-GAINS>                                             0
<DISTRIBUTIONS-OTHER>                                                0
<NUMBER-OF-SHARES-SOLD>                                              0
<NUMBER-OF-SHARES-REDEEMED>                                          0
<SHARES-REINVESTED>                                                  0
<NET-CHANGE-IN-ASSETS>                                           7,331
<ACCUMULATED-NII-PRIOR>                                            566
<ACCUMULATED-GAINS-PRIOR>                                       (2,577)
<OVERDISTRIB-NII-PRIOR>                                              0
<OVERDIST-NET-GAINS-PRIOR>                                           0
<GROSS-ADVISORY-FEES>                                              142
<INTEREST-EXPENSE>                                                   2
<GROSS-EXPENSE>                                                    200
<AVERAGE-NET-ASSETS>                                            47,626
<PER-SHARE-NAV-BEGIN>                                           995.85
<PER-SHARE-NII>                                                  (1.01)
<PER-SHARE-GAIN-APPREC>                                         182.19
<PER-SHARE-DIVIDEND>                                                 0
<PER-SHARE-DISTRIBUTIONS>                                            0
<RETURNS-OF-CAPITAL>                                                 0
<PER-SHARE-NAV-END>                                           1,177.03
<EXPENSE-RATIO>                                                   1.49


</TABLE>