PANTHEON INTERNATIONAL PLC - Annual Results

Pantheon International PLC’s latest investor update highlights resilient portfolio performance, strategic progress and a renewed focus on long-term value creation across global private equity markets. PI delivered 4.3% NAV per share growth during the year, while its share price increased 37.5%, supported by a narrowing discount. The diversified portfolio continues to combine fund and direct investments, with a focus on high-quality small and mid-market businesses, particularly across North America, technology, healthcare and consumer sectors. Portfolio distributions increased to 16% of opening NAV, with £1.6 billion of net cash flow generated over the year and exits delivering a healthy 2.9x return on invested capital. PI also returned significant capital to shareholders through share buybacks, investing £118 million during the year and bringing total buybacks since FY2022 to approximately £580 million. The company has refined its growth strategy by concentrating its primary manager relationships on around 25 high-conviction managers, increasing its focus on operational value creation, improving portfolio liquidity and maintaining disciplined capital allocation between new investments and buybacks. Cost efficiencies have also been achieved through a simplified management fee structure and improved financing terms. With a balanced, diversified private equity portfolio and continued focus on operational performance, active portfolio management and shareholder returns, PI remains positioned to benefit from a recovery in private equity markets while targeting attractive long-term returns.