Pantheon International PLC Monthly Performance Update (8360H)
August 23 2016 - 2:00AM
UK Regulatory
TIDMPIN
RNS Number : 8360H
Pantheon International PLC
23 August 2016
23(rd) August 2016
Pantheon International Plc
Performance Update at 31(st) July 2016
Month to 31(st) July 2016
Pantheon International Plc ("PIP") announces an unaudited net
asset value ("NAV") per share at 31(st) July 2016 of 1,888.1p, an
increase of 14.5p (0.8%) from the NAV per share as at 30(th) June
2016. Valuation gains (1.3p, 0.1%), investment income (1.0p) and
foreign exchange movements (14.4p, 0.8%) were offset by expenses
and taxes* (-2.2p, -0.1%).
PIP's valuation policy for private equity funds is based on the
latest valuations reported by the managers of the funds in which
PIP has holdings. In the case of PIP's valuation at 31(st) July
2016, the majority of reported valuations (accounting for circa 94%
by value) are dated 31(st) March 2016 or later.
At 31(st) July 2016, PIP's private equity assets stood at
GBP1,072m, whilst cash balances were GBP127m. Undrawn commitments
to investments stood at GBP403m at 31(st) July 2016, calculated
using exchange rates at that date. In addition, PIP's
multi-currency revolving credit facility agreement, comprising a
US$100m facility and a EUR46m facility, remained completely
undrawn.
PIP's portfolio generated net cash of GBP9.7m during the month,
with distributions of GBP15.6m relative to GBP5.9m of calls from
existing commitments to private equity funds.
PIP completed three new investments during the month, amounting
to GBP19.4m of total commitments. These comprised primary
commitments: GBP11.0m to IK VIII, a European middle-market buyout
fund; GBP7.2m to Arbor Investments IV, a North American
middle-market buyout fund focusing on food, beverage and packaging
industries; and GBP1.2m to Riverstone Global Energy and Power Fund
VI, a North American energy fund.
* Withholding taxes on investment distributions.
Monthly Report
The July monthly newsletter can be accessed on PIP's website at
www.piplc.com in the Investor Relations section under the heading
"Newsletters", or by following this link:
http://www.piplc.com/investor-relations/newsletters.
Ends
NOTES
PIP
PIP is a London quoted investment trust, managed by Pantheon
Ventures (UK) LLP ("Pantheon"), a leading global private equity
fund investor, investing in both primary funds and secondary
transactions, and from time to time capitalising further on its
fund investment activities by acquiring direct holdings in unquoted
companies, usually either where a vendor is seeking to sell a
combined portfolio of fund interests and direct holdings or where
there is a private equity manager, well known to Pantheon,
investing on substantially the same terms. With investments in
private equity funds, covering multiple private equity strategies
ranging from investments in late stage buyouts to early stage
technology, PIP enables individuals as well as institutions to gain
access to a substantial portfolio of unquoted companies in the USA,
the UK, Continental Europe and Asia, within funds managed by
experienced private equity managers.
Pantheon
Pantheon is a leading global private equity fund investor that
invests on behalf of over 380 institutional investors. Established
over 30 years ago, Pantheon has developed a strong reputation and
track record in primary, secondary and co-investments and across
all stages and geographies. Pantheon has GBP23.6 billion in AUM**
(as at 31(st) March 2016), 210 employees, including 72 investment
professionals, located across offices in London, San Francisco, New
York, Hong Kong, Seoul and Bogotá.
** This figure includes assets subject to discretionary or
non-discretionary management, advice or those limited to a
reporting function.
For more information please visit PIP's website at www.piplc.com
or contact:
Andrew Lebus or Vicki Bradley
Pantheon
020 3356 1800
Neither the contents of PIP's website nor the contents of any
website accessible from hyperlinks on PIP's website (or any other
website) is incorporated into, or forms part of this
announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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