|
Pantheon International PLC on Thursday said it has agreed a new fee arrangement with its investment manager that would have reduced what it paid for last year by nearly 20%. The London-based private equity investment vehicle said manager Pantheon Ventures UK LLP is currently entitled to a monthly management fee based on a tiered percentage. This will change to a flat percentage. It is currently calculated at an annual rate as the sum of 1.5% on the value of investment assets up to £150 million, 1% on the value of investment assets in excess of £150 million, and 0.5% on the aggregate amount of undrawn commitments. For the year to the end of May 2025, investment assets were £2.44 billion and undrawn commitments were £693 million. From the start of the next financial year in June, the monthly fee will be calculated at a flat rate of 1% of the firm’s net asset value, and there will be no fee payable on undrawn commitments. The NAV at the end of May 2025 was £2.22 billion. If the new arrangement had been in place during financial 2025, these changes would have resulted in a 19%, or £5.3 million, reduction in the management fee. Pantheon International added that the performance fee element of the existing arrangement, which at the end of May 2025 had a hurdle of a NAV per share of 668.00 pence, remains unchanged. ‘The implementation of a new management fee arrangement follows a rigorous benchmarking exercise against our peer group, and a period of negotiation with Pantheon. We believe that this new structure is simpler, more streamlined and cost competitive,’ said Pantheon International Chair Tony Morgan. Shares in Pantheon International were marginally lower at 373.35p on Thursday afternoon in London. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
