REG - Pantheon Intl PLC - Reduced management fee arrangement

Pantheon InternationalAnnouncement

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RNS Number : 5478T  Pantheon International PLC  19 February 2026

19 February 2026

For immediate release

The information contained in this announcement is restricted and is not for
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Australia (other than to persons who are both wholesale clients and
professional or sophisticated investors in Australia), Japan, the Republic of
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distribution is or may be unlawful.

Pantheon International Plc

("PIN" or the "Company")

Reduced management fee arrangement

PIN, the FTSE 250 private equity investment trust, has agreed a reduced
management fee arrangement with its Investment Manager, Pantheon.

Currently, Pantheon is entitled to a monthly management fee calculated at an
annual rate as the sum of (i) 1.5% on the value of investment assets up to
£150m, (ii) 1% on the value of investment assets in excess of £150m, (iii)
0.5% on the aggregate amount of undrawn commitments. At the year ended 31 May
2025, investment assets were £2,437m and undrawn commitments were £693m.

From 1 June 2026, the start of PIN's next financial year, the monthly
management fee will be calculated at a flat rate of 1% of the Company's net
asset value ("NAV") and there will be no fee payable on undrawn commitments.
The NAV as at 31 May 2025 was £2,223m.

By way of illustration, had the new arrangement been in place during the
Company's FY2025, these changes would have resulted in a 19% (or £5.3m)
reduction in the management fee payable.

The performance fee element of the existing management fee arrangement, which
as at 31 May 2025 had a hurdle of a NAV per share of 668.0p, remains
unchanged.

Tony Morgan, Chair of Pantheon International Plc, said:

"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."

This announcement contains inside information.

Ends

 

LEI: 2138001B3CE5S5PEE928

Enquiries

 

Pantheon

Charlotte Morris / Vicki Bradley

Tel: +44 20 3356 1800

 

 Montfort Communications                 +44(0)07798 626282 / +44 (0)7539 993 601
 Gay Collins / Charlotte Merlin-Jones /  pin@montfort.london (mailto:pin@montfort.london)

 Michael Schutzer-Weissmann

 

 

For more information on PIN, please visit the Company's website at
www.pantheon-international.com (http://www.pantheon-international.com) and
follow us on LinkedIn:
 https://www.linkedin.com/company/pantheon-international-plc
(https://eur02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fpantheon-international-plc&data=02%7C01%7Cvicki.bradley%40pantheon.com%7C45af84f717f44036bd2808d8339ac8b5%7Cfa42760f88e74104a3d29f36ac959aaf%7C0%7C0%7C637316087164010634&sdata=xYCVAVqCFkw6CJOL4mTlMGS8sVLf5Zt1CoyU5ay0QyQ%3D&reserved=0)

 

NOTES

PIN

PIN is a listed FTSE 250 private equity investment trust, overseen by
an independent Board of Directors and managed by Pantheon, one of the leading
private equity investment managers globally. PIN offers investors a liquid,
differentiated entry point to the excellent growth potential of global private
equity, with access to the primary, secondary and co-investment opportunities
of some of the best managers in the world. The Company has a track record of
NAV outperformance over the long term and manages risk strategically through
diversification and rigorous selection based on Pantheon's extensive
experience and international platform, and robust investment due diligence and
decision-making processes.

Pantheon

PIN is managed and advised by Pantheon, a specialist global private markets
investor. Pantheon has been at the forefront of private markets investing for
more than 40 years, earning a reputation for providing innovative solutions
covering the full lifecycle of investments, across private equity, real assets
and private credit. The firm has partnered with more than 740 clients, with
approximately $82.3bn in discretionary assets under management (as at 31
December 2025).

Important Information

A copy of this announcement will be available on the Company's website at
www.pantheon-international.com (http://www.pantheon-international.com) .
Neither the content of the Company's website, nor the content on any website
accessible from hyperlinks on its website for any other website, is
incorporated into, or forms part of, this announcement nor, unless previously
published by means of a recognised information service, should any such
content be relied upon in reaching a decision as to whether or not to acquire,
continue to hold, or dispose of, securities in the Company.

Tony Morgan

Chair, Pantheon International Plc

Broadwalk House, Southernhay West, Exeter, Devon EX1 1TS

 

 

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