<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 APRIL 30, 2000 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000930454
<NAME> UST PRIVATE EQUITY INVESTORS FUND, INC.
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 24,959
<INVESTMENTS-AT-VALUE> 30,514
<RECEIVABLES> 3,490
<ASSETS-OTHER> 1,130
<OTHER-ITEMS-ASSETS> 7
<TOTAL-ASSETS> 35,141
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,561
<TOTAL-LIABILITIES> 1,561
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39,385
<SHARES-COMMON-STOCK> 40
<SHARES-COMMON-PRIOR> 40
<ACCUMULATED-NII-CURRENT> 469
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (11,829)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,555
<NET-ASSETS> 33,580
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 340
<OTHER-INCOME> 0
<EXPENSES-NET> 437
<NET-INVESTMENT-INCOME> (97)
<REALIZED-GAINS-CURRENT> 7,161
<APPREC-INCREASE-CURRENT> 2,406
<NET-CHANGE-FROM-OPS> 9,470
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (16,185)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (6,715)
<ACCUMULATED-NII-PRIOR> 566
<ACCUMULATED-GAINS-PRIOR> (2,577)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 349
<INTEREST-EXPENSE> 2
<GROSS-EXPENSE> 537
<AVERAGE-NET-ASSETS> 37,991
<PER-SHARE-NAV-BEGIN> 995.85
<PER-SHARE-NII> (2.39)
<PER-SHARE-GAIN-APPREC> 236.43
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (400.00)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 829.89
<EXPENSE-RATIO> 1.54
</TABLE>
