Pantheon International PLC (LSE:PIN) continued its share buyback during August and made one new direct investment as its portfolio generated cash distributions of £14.2 million of cash.
PIP shelled out £3.8 million on calls from existing commitments to private equity funds, so the portfolio generated net cash of £10.4 million during the month.
It spent £1.6 million on its ongoing share buyback and invested £6.2 million in a secondary investment in Tacala, the largest franchisee of Taco Bell restaurants in the USA, alongside private equity partner Altamont Capital.
Net asset value was 485.0p per share at the end of August, as valuation gains from the portfolio added 7.6p or 1.6%, investment income added 0.1p and the buyback 0.2p, while foreign exchange movements detracted 7.9p or 1.6% and expenses and taxes another 1p.
The total value of its private equity assets stood at £2.47 billion, whilst net available cash balances were £15 million at the end of last month.