LONDON, UK: Pantheon Infrastructure Plc (PINT) intends to launch an initial public offering (IPO) and to admit its Ordinary Shares to the premium segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange plc’s Main Market.
Pantheon Infrastructure Plc (PINT) will target attractive risk-adjusted total returns comprising capital growth and a progressive dividend through making equity and equity-related investments in private infrastructure assets alongside other leading private asset investment managers and institutional investors.
The Company is seeking to raise £300 million via a placing, an offer for subscription and an intermediaries offer of Ordinary Shares at an issue price of 100 pence per Ordinary Share. Subscription Shares will be issued to IPO investors subscribing for Ordinary Shares on the basis of one Subscription Share for every five Ordinary Shares subscribed.
Pantheon Ventures (UK) LLP will be the Company’s investment manager. Founded in 1982, Pantheon has established itself as a leading global multi-strategy investor in private equity, infrastructure & real assets, private debt and real estate with total assets under management and advice of $71.3 billion as at 31 March 2021.
Since 2009, Pantheon has completed 155 infrastructure investments across primaries, secondaries and co-investments alongside more than 50 asset sourcing partners, solidifying its position as one of the largest managers investing in infrastructure.1 The global infrastructure investment team managed $16.0 billion in assets as at 31 March 2021.2
Investec Bank is acting as Sole Sponsor, Financial Adviser and Bookrunner to the Company. The Company expects to publish the Prospectus in connection with the Issue later this week. Admission is expected in mid-November.
Vagn Sørensen, Chairman of the Company, said: “We are very pleased to announce the launch of PINT, which is an exciting opportunity for investors to gain access to attractive risk-adjusted returns from infrastructure assets that benefit from long-term contractual cash flows, and have a positive correlation to inflation and favourable exposure to secular changes in society.
“Pantheon has a proven track record of delivering strong returns by applying a disciplined investment process across a globally diversified portfolio and we are confident that their approach, which focuses on co-investing, thus minimising fees while maximising the number of investment opportunities it can access, offers a compelling and differentiated opportunity for investors.”
Richard Sem, Partner, Pantheon, said: “There is a growing and substantial requirement for investment in a number of different infrastructure sectors globally, where private capital is playing an increasingly important role in adapting to key global trends such as the transition to a low-carbon economy. Pantheon has a strong track record built over more than a decade derived from identifying compelling opportunities, in conjunction with leading investment partners, and supporting the growth and development of infrastructure companies in a diverse range of sectors. The strategy is expected to deliver a robust income stream and capital growth from creating value in the underlying portfolio companies.”