(Alliance News) - Pantheon International PLC on Friday reported a net asset value decrease during December and multiple new commitments and investments.
The London-based private equity investor said NAV per share was 3,091.4 pence as at December 31, which was down 47.8p, and fell by 1.5%, from 3,139.2p as at November 30. For comparison, its November NAV per share increased by 4.3%.
Shares in Pantheon International were marginally lower at 2,454.70 pence in London on Friday morning.
As at the end of December, Pantheon's NAV was GBP1.7 billion, which has remained the same as at the end of November. Private equity assets stood at GBP1.6 billion, unchanged from the prior month, while net available cash balances were GBP146 million, down from GBP151 million in November. Its portfolio generated net cash of GBP24.4 million, down from GBP26.2 million the previous month.
The company's multi-currency revolving credit facilities comprise a USD269.8 million facility and a EUR101.6 million facility, which remained undrawn as at the month-end.
During December, Pantheon said it made a GBP5.0 million secondary commitment to an unnamed European small buyout fund and a GBP3.8 million co-investment alongside IK Investment Partners in Kersia Group, a biosecurity and food safety company based in France. It also made a GBP1.9 million co-investment alongside ArchiMed SAS in North American Science Associates Inc, a US provider of outsourced research and development services to medical device companies.
"[Pantheon] made GBP27.0 million of new commitments during the month across three secondaries of GBP14.8 million, five co-investments of GBP10.7 million and one primary of GBP1.5 million," the company said.
By Zoe Wickens; zoewickens@alliancenews.com
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Pantheon International (PIN)