Last checked at 12 Sep 2023 09:56
Pantheon Infrastructure - Update from QuotedData
12th September 2023
Travelling in the right direction
Pantheon Infrastructure (PINT) is less than two years old and is still adding to its portfolio. The most recent commitment is to Zenobe, a battery storage and electric vehicle fleet specialist. This was in conjunction with Infracapital - see page 5. This follows an investment in GlobalConnect (a pan-Nordic data centre and fibre business), which offers the potential to participate in the growth of demand for data across Northern Europe. It also comes with a well-regarded sponsor in EQT - see page 6.
PINT's NAV is moving in the right direction and is underpinned by some fairly conservative assumptions, including a 13.7% weighted average discount rate. This is applied to PINT's forecast cash flows to calculate the net asset value (NAV). Dividends are on track. In fact, you could say that everything is going in the right direction. The one exception is PINT's share price, which, instead of reflecting the NAV growth, has moved to trade on a double-digit discount to NAV. This seems unjustified to us, but we recognise that double-digit discounts are now commonplace for these types of funds. This could represent a good buying opportunity for a long-term investor.
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