Last checked at 
19 May 2008 16:25
For immediate release:
PANTHEON INTERNATIONAL PARTICIPATIONS PLC
INTERIM MANAGEMENT STATEMENT (UNAUDITED)
FOR QUARTER ENDED 31 MARCH 2008
Pantheon International Participations PLC ("PIP" or the "Company") presents its interim management statement for the period from 1 January 2008 to 31 March 2008. This constitutes the Company's second interim management statement in the financial year ending 30 June 2008, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The Company published an unaudited Net Asset Value ("NAV") as at 31 March 2008 on 28 April 2008*. This interim management statement summarises the information as at 31 March 2008 and any further developments up to 19 May 2008.
Investment Objective
PIP's primary investment objective is to maximise capital growth
by investing in private equity funds and, occasionally, directly in
private companies.
Gearing
A total amount equal to ‚£41.2m was drawn down under PIP's loan facilities at 31 March 2008.
Material Events and Transactions
During the quarter ended 31 March 2008 PIP received distributions from private equity assets of ‚£24 million. PIP invested ‚£69 million in private equity assets. PIP made commitments of ‚£122 million during the quarter to 8 primary funds (‚£80 million) and 4 secondary transactions (‚£42 million).
Performance*
The share price and NAV per share increased by 1.0% and 4.1% respectively during the quarter.
Total Return Performance
1 Year 3 Years 5 Years 10 Years Since Inception* % % p.a. % p.a. % p.a. % p.a. NAV per share 24.3 21.0 15.2 11.9 14.5 Ordinary Share Price -1.4 14.3 16.3 13.5 13.7 MSCI World (sterling) -3.6 8.3 11.3 3.2 6.6 Total Return FTSE All-Share Index -7.7 9.5 14.7 3.5 8.3 Total Return *18th September 1987General Information 31/03/08 31/12/07 Change NAV Per Share 1096.1p 1052.5p 4.1% Ordinary Share Price 847.5p 839.5p 1.0% Redeemable Share Price 869.0p 857.5p 1.3% Total assets less current ‚£727.7m ‚£698.8m 4.1% liabilities Outstanding Commitments ‚£627.0m ‚£556.9m 12.6%
Other than as described above the Board is not aware of any events during the period from 1 January 2008 to the date of this statement which would have a material impact on the financial position of the Company.
Tom BartlamChairman19 May 2008
The views information and data in this announcement should not be deemed as a financial promotion or recommendation. Shareholders are advised that this statement is unaudited.
For further information please visit PIP's website at
www.pipplc.com or contact:Andrew LebusPantheon Ventures LtdTel: 020 7484 6200
* PIP's valuation policy for private equity funds is based on the latest accounts produced by the managers of the funds in which PIP has holdings. In the case of the valuation as at 31 March 2008, the majority of valuations are dated 31 December 2007. Private equity funds may contain a proportion of quoted shares from time to time, for example where the underlying company investments have been taken public but the holdings have not yet been sold. The quoted market holdings at the date of the latest fund accounts are reviewed and compared with the value of those holdings at the year end. If there has been a material movement in the value of these holdings, the valuation is adjusted to reflect this.
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