Please carefully review the following information and respond to the questions below.
Due to legal restrictions, the information in this document is not available to any person who is an ‘restricted person’ (as defined below) or to any person who is physically present in ‘restricted countries’ (as defined below) and it is available only to persons who are “relevant persons” (as defined below) for U.K. regulatory purposes.
An ‘restricted person’ is:
‘Restricted countries’ are in or into any member state of the European Economic Area (“eea”) (other than the United Kingdom, or to professional investors in Denmark, Finland, Germany, Spain or Sweden), the United States, Canada, Australia, the Republic of South Africa or Japan or any other jurisidiction where its release, publication or distribution is or may be unlawful.
“Relevant persons” are (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2) (a) to (d) of the Order. The securities of the Company are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not access, or seek to act or rely on, this website or any of its contents.
This document should not be taken, transmitted or distributed, directly or indirectly, to ‘restricted persons’ as defined above nor to parties that qualify as ‘Relevant persons’ as defined above. In reading this document the readers also acknowledge that they have read and understood the notices set forth above and the disclaimers contained in the document.
If you are not a ‘Relevant person’ or you are an ‘restricted person’, you should not have received or accessed this document and accordingly should return this document as soon as possible and take no further action. Any investment or investment activity to which this document relates is only available to relevant persons. By accepting receipt of this document, each recipient is deemed to confirm, represent and warrant to Hardman & Co that it is a Relevant Person and accordingly a person to whom this document can be lawfully communicated.
We reviewed Pantheon International (PIP, ticker PIN) in our report, 11.9% average annual NAV growth since 1987, published on 6 September. PIP invests in a diversified portfolio of private equity (PE) funds and directly in private companies. On average, it has generated ca.1.5x the market’s returns since inception in 1987, delivered by i) PE-owned businesses outperforming quoted ones, ii) PIP investing in the right PE sub-sectors, iii) benefits from being in the Pantheon family, and iv) a structured fund selection process. PIP gives investors liquid access to the illiquid PE market, strong corporate governance and a “real” NAV above its “book” value. The risks are detailed below.
If you'd like to be introduced to the team at Pantheon International Plc, get in touch.Request a meeting