Pantheon International PLC (LSE:PIN, FRA:PAA0) reported net asset value slipped in April, though the FTSE 250 private equity investment trust also highlighted rising buyback capacity following a post-period asset sale.
The company reported an unaudited NAV per share of 512.0p at 30 April 2026, down 20.2p, or 3.8%, from the end of March. Foreign exchange movements knocked 12.9p from NAV, while valuation movements reduced it by a further 7.5p.
April was cash-generative for the portfolio, with £47.6 million of distributions set against £6.3 million of calls, producing net portfolio cash flow of £41.3 million. Distributions included proceeds from the sales of Wiz, TEAM Services Group and Team Global Express.
PIN also repurchased 2,346,426 shares during the month for £8.7 million, paying a weighted average 372.2p per share, which represented an average 28.4% discount to prevailing NAV. Buybacks over the eleven months to 30 April totalled £80.4 million.
Since the month-end, the company has announced a targeted secondary market asset sale generating £224 million, with at least 80%, or about £180 million, to be used for share buybacks