Pantheon International PLC said on Friday its net asset value per share was down while it bought back shares in October.
The private equity investment trust said its net asset value was £2.5 billion on October 31 or 479.00 pence in NAV per share, down 2.7% from 492.50p per share on September 30. Valuation losses were 6.1% during the month, which is based on figures reported by the managers of holdings within Pantheon International’s portfolio, while foreign exchange movements were negative 1.7%.
During October, it bought back 1.6 million shares at a weighted average price of 248.90p per share, totalling £4.0 million. This price represented an average discount of 48% to the prevailing NAV per share at the time of the transactions. Shares in Pantheon International last traded to 274.90p in London on Thursday.
One new £18.2 million commitment was made alongside Deutsche Private Equity in a transaction involving two companies: German-based digital consulting and software firm Valantic and Swiss-based management and technology consultant AWK Group.
Pantheon International noted it has access to a five year £500 million revolving credit facility, which is due to expire in July 2027. The facility remained undrawn on October 31.
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