7th May 2014 11:43
LONDON (Alliance News) - Private equity investor Pantheon International Participations PLC Wednesday said its net asset value received a boost from portfolio gains in its third-quarter.
In a statement, Pantheon, which invests in private equity both through funds or directly in companies, said its net asset value increased to 1,344.1 pence a share from 1,303.9 pence over the three months ended March 31. Net asset value increased to GBP898.0 million from GBP872.0 million.
Portfolio gains added 48.7 pence per share in the quarter, led by value increases in the venture and growth portfolio. Investment income increased the NAV per share by 3.9 pence. Unfavourable currency movements decreased NAV per share by 7.7 pence and expenses further decreased it by 4.7pence.
The company's portfolio generated GBP38.8 million in net cash in the quarter before the cost of new commitments. Distributions amounted to GBP46.5 million and calls from existing commitments totalled GBP7.7 million.
A total of GBP17.3 million was invested in new commitments in the quarter.
Tasked with targeting capital growth, Pantheon said its share price increased to 1,100.0 pence from 1,028 pence over the quarter.
Shares were Wednesday quoted at 1,102.00 pence, down 0.5% on Tuesday's closing price.
By Samuel Agini; [email protected]; @samuelagini
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