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(Sharecast News) - Pantheon International reported a 0.9% month-on-month improvement in its unaudited net asset value per share in March on Friday, to 488.1p, as its total net asset value stood at £2.3bn.
The FTSE 250 company said in the month ended 31 March, valuation gains accounted for a positive movement of 3.8p, or 0.8%, while investment income added 0.6p, or 0.1%.
Additionally, foreign exchange movements contributed 0.4p, or 0.1%, and share buybacks added 0.6p, or 0.1%.
However, expenses and taxes deducted 1.2p, or 0.2%, from its overall performance.
PIP said that at the end of March, 9% of its reported valuations were current, with 79% from December, 11% from September, and 1% from June.
Notably, 6.8% of its current valuations reflected the mark-to-market fair value adjustment for PIP's listed company holdings.
Private equity assets for PIP amounted to £2.46bn as of 31 March, with net available cash balances at £13m.
The asset-linked note outstanding totalled £28m, while undrawn commitments to investments stood at £766m.
PIP said it maintained a five-year multi-tranche, multi-currency revolving credit facility of £500m, with £32m drawn down as of 31 March.
Furthermore, PIP held $150m (£119m) of private placement notes outstanding, resulting in a net debt-to-net asset value ratio of 6.0%.
During the month, PIP made a primary commitment of £20m to Altor Carbon Transition I, a European growth buyout fund focusing on green transition and industrial decarbonisation.
Additionally, it invested £5.5m in share buybacks, acquiring 1,720,609 shares at a weighted average price of 319.1p per share, representing a discount of 33.1% to the prevailing net asset value per share.
Reporting by Josh White for Sharecast.com.