We will be hosting a webinar on Hardman Talks featuring Helen Steers of Pantheon International Plc (PIN), hosted by Mark Thomas of Hardman & Co.
Helen will be discussing the key themes of private equity investing, and relating this back to Pantheon International’s portfolio businesses, whilst briefly touching on the recent interim results. Mark will offer his own analysis and incorporate audience questions into the discussion, live on Zoom at 4pm on Thursday 6 May 2021. Sign up now for your place.
Pantheon International Plc is an investment trust that invests in a diversified portfolio of private equity assets managed by third party managers across the world. It is the longest established private equity fund-of-funds on the London Stock Exchange.
The key interim results message is the spectacular operational outperformance achieved through the COVID-19 crisis so far. Pantheon International’s sample of buyout companies (two-thirds of that portfolio) reported weighted average revenue and EBITDA growth of 17% and 15%. The MSCI World Index reported falls of 17% and 31%, respectively, for the same period. Pantheon International’s investee companies normally outperform (EBITDA growth 2013-19 average 11% higher than the index), but, through COVID-19 to November, it was 4x this level. EV/EBITDA ratings on the trust’s book are, despite this sharp outperformance, at a 1% discount to this index.
You can send us your questions when you register or during the presentation.
Read our latest report on Pantheon International Plc here.