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Highlights
- Pantheon International PLC continues share buyback while generating £14.2 million in cash distributions.
- A new direct investment of £6.2 million made in Tacala, the largest Taco Bell franchisee in the USA.
- Net asset value per share reported at 485.0p, reflecting mixed valuation impacts.
Overview
Pantheon International PLC (LSE:PIN) maintained its share buyback initiative in August while successfully generating cash distributions totaling £14.2 million from its portfolio. The company allocated £3.8 million towards existing commitments with private equity funds, resulting in a net cash generation of £10.4 million for the month.
In line with its strategic focus, Pantheon spent £1.6 million on its ongoing share buyback program and made a notable investment of £6.2 million in a secondary investment in Tacala, the largest franchisee of Taco Bell restaurants in the United States, in collaboration with private equity partner Altamont Capital.
At the end of August, the company reported a net asset value (NAV) of 485.0p per share. The portfolio experienced valuation gains contributing 7.6p, or 1.6%, to the NAV, while investment income added a modest 0.1p. The buyback initiative positively impacted the NAV by 0.2p. However, foreign exchange fluctuations resulted in a deduction of 7.9p, or 1.6%, and expenses along with taxes further reduced the NAV by 1p.
As of the end of August, the total value of Pantheon’s private equity assets stood at £2.47 billion, with net available cash balances reported at £15 million. This financial positioning underscores Pantheon’s ongoing commitment to enhancing shareholder value while navigating market dynamics.
