Investment Trusts
Pantheon International is a long-established listed private-equity investment trust managed by Pantheon. It gives shareholders diversified exposure to private companies through primary funds, secondary interests and co-investments across regions, sectors and investment vintages.
Investment in private-equity funds, secondary transactions and direct co-investments, with capital recycled from realisations and distributions and an active programme of share buybacks.
Global private equity, with broad exposure to North America, Europe and Asia and to buyout, growth and venture-backed businesses across many sectors.
Portfolio-company growth, realisations and distributions, private-market valuations, the pace of deal activity, foreign exchange and the effect of buybacks on NAV and the discount.
Illiquid private assets, valuation lags, weak exit markets, portfolio leverage, unfunded commitments, foreign exchange, concentration in private markets and a persistent share-price discount to NAV.
4 August 2026: annual results for the year to 31 May reported NAV of about 517.9p per share and maintained the focus on capital discipline and discount reduction. The Board has allocated a further £50m to share buybacks rather than introducing a dividend, while future realisations and cash distributions remain central to the 2027 outlook.
Pantheon International does not currently pay a dividend. The Board has reviewed the issue but continues to favour share buybacks as the more attractive use of capital while the shares trade at a substantial discount to NAV.
The complete 350 Trade Book — 350 leading UK-listed companies, presented in one consistent working reference.