TIDMPIN
RNS Number : 3430Z
Pantheon International PLC
21 May 2021
21 May 2021
For immediate release
The information contained in this announcement is restricted and
is not for publication, release or distribution in the United
States of America, Canada, Australia (other than to persons who are
both wholesale clients and professional or sophisticated investors
in Australia), Japan, the Republic of South Africa or any other
jurisdiction where its release, publication or distribution is or
may be unlawful.
Pantheon International Plc
("PIP" or the "Company")
Performance Update at 30 April 2021
Performance Update at 30 April 2021
3,352.0p NAV per share
+2.4% NAV per share movement for the month
GBP1.8bn Net asset value
GBP14.6m Net portfolio cash flow*
4.1x Financing cover**
+109% Total shareholder return (5Y)***
Month to 30 April 2021
PIP announced an unaudited net asset value ("NAV") per share as
at 30 April 2021 of 3,352.0p, an increase of 77.6p (+2.4%) from the
NAV per share as at 31 March 2021.
In the month to 30 April 2021, valuation gains* added +72.5p
(+2.2%), investment income* added +3.3p (+0.1%), foreign exchange
movements* were +5.7p (+0.2%), and expenses and taxes**** were
-3.9p (-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 as at 30 April
2021, 99% of reported valuations are dated 31 December 2020 or
later.
At 30 April 2021, PIP's private equity assets stood at
GBP1,667m, whilst net available cash balances^ were GBP195m. The
Asset Linked Note^^ ("ALN") outstanding as at 30 April 2021
amounted to GBP49m. Undrawn commitments to investments stood at
GBP520m as at 30 April 2021, calculated using exchange rates at
that date. PIP's multi-currency revolving credit facilities
comprise a US$269.8m facility and a EUR101.6m facility, which
remained undrawn as at the month end.
The Company made no new commitments during the month, however
PIP has a full pipeline of deals which are expected to close over
the next few weeks and prior to its financial year end. PIP has
made 25 new investments in the 11 months to 30 April 2021,
amounting to GBP189.9m in commitments.
*Figures are stated net of movements associated with the ALN
share of the reference portfolio.
**Ratio of net available cash, portfolio value and undrawn loan
facility to outstanding commitments.
***Based on the change in the ordinary share price over the
period.
****Withholding taxes on investment distributions.
^Net available cash calculated as cash and net current assets /
(liabilities) less undistributed net cashflows associated with the
ALN.
^^Unlisted 10-year note issued on 31 October 2017 whose cost and
repayments are linked to a reference portfolio consisting of the
Company's older vintage funds.
Performance as at 30 April 2021 ^^^
1 Year (%p.a.) 3 Years 5 Years 10 Years Since Inception
(% p.a.) (% p.a.) (% p.a.) (% p.a.)
NAV TR per share 22.8% 13.4% 14.1% 12.3% 11.8%
Ordinary share price 33.2% 10.7% 15.9% 14.0% 11.3%
FTSE All-Share TR 25.9% 2.5% 6.9% 6.1% 7.5%
MSCI World (GBP) TR 42.6% 16.0% 16.9% 13.1% 8.6%
============== ========= ========= ========= ===============
^^^PIP was launched on 18 September 1987. The performance
figures for PIP assume reinvestment of dividends, capital.
Monthly Report
The April monthly newsletter can be accessed on PIP's website at
www.piplc.com in the Investor Relations section under the heading
"Newsletters".
This announcement contains inside information.
Ends
LEI: 2138001B3CE5S5PEE928
For more information please visit PIP's website at www.piplc.com
or contact:
Pantheon
Helen Steers / Vicki Bradley
020 3356 1800
Follow us on LinkedIn: https://www.linkedin.com/company/pantheon-international-plc
NOTES
PIP
PIP is a listed FTSE 250 private equity investment trust,
overseen by an independent Board of Directors and managed by
Pantheon, one of the leading private equity investment managers
globally. PIP offers investors a liquid, differentiated entry point
to the excellent growth potential of global private equity, with
access to the primary, secondary and co-investment opportunities of
some of the best managers in the world. The Company has a track
record of outperformance and manages risk through diversification
and rigorous selection based on Pantheon's extensive experience and
international platform.
Pantheon
PIP is managed and advised by Pantheon, a leading global private
equity, infrastructure & real assets and private debt investor
with more than 35 years' experience sourcing and executing private
market investment opportunities on behalf of clients. Pantheon has
$65.9 billion in AUM (as at 31 December 2020) and employs
approximately 360 staff including more than 100 investment
professionals across offices in London, San Francisco, New York,
Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.
^^ This figure includes assets subject to discretionary or
non-discretionary management, advice or those limited to a
reporting function.
Important Information
A copy of this announcement will be available on the Company's
website at www.piplc.com . Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks
on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published
by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not
to acquire, continue to hold, or dispose of, securities in the
Company.
Sir Laurie Magnus
Chairman, Pantheon International Plc
Beaufort House, 51 New North Road, Exeter, Devon, EX4 4EP
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END
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May 21, 2021 02:00 ET (06:00 GMT)
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