Pantheon International PLC (LSE:PIN) (PIP), a listed investment trust focused on private equity assets, indicated plans to develop new stakes in companies over the next few months.
“Although the company made no new commitments during the month, PIP's pipeline points to an active period for new investments in the coming months,” the FTSE 250-listed firm revealed in a monthly update.
Net asset value per share was 456.6p at the end of March, having dropped 1.5% month-on-month.
The group noted that total private equity assets were worth £2.4bln and the total available cash had dropped by £5mln compared to February to £59mln.
“PIP invested £1.8m in share buybacks during the month, acquiring 750,000 shares at a weighted average price of 234.0p per share,” the trading update added.
Additionally, the firm stated it was still yet to withdraw any cash from its multi-tranche and multi-currency £500mln credit facility, which expires in July 2027.
Shares in PIP remained flat on Friday after opening at 239p.