Assets Up at Private Equity Trust Pantheon

Nick Parmee

26 September 2008

London-based private equity investment trust Pantheon International Participations did well in the year to 30 June 2008. Total net assets rose 21 per cent to £736 million ($1,366 million) from £610 million at 30 June 2007. But the discount to NAV for ordinary shares widened during the year, as at most London-listed PEITs, to 32 per cent.

The firm says it has benefited from the diversity of its portfolio, covering both top tier primary funds and secondary assets, ranging from venture capital through to buyouts (the latter predominantly mid-market) in Europe, the Americas and Asia.

PIP committed £357 million in the year, comprising £237 million to 36 new funds (14 venture, 19 buyout and 3 special situations), £113 million to 13 secondary transactions and £7 million to four direct co-investments.