Pantheon Infrastructure (PINT) has confirmed its intention to list on the London Stock Exchange, seeking to raise £ 300million to invest in digital infrastructure, renewable energy, transport, logistics and utilities.
The investment trust will invest in a combination of high yielding infrastructure and growth assets, targeting risk-adjusted total returns or progressive capital growth and dividends.
Pantheon Ventures will be the investment manager, having made 155 infrastructure investments in primary, secondary and co-investments alongside more than 50 asset supply partners since 2009.
It has also committed $ 2.7 billion in 34 co-investment deals since 2015, offering risk-adjusted gross returns of 18.5%.
PINT aims for an initial dividend of at least 2p per common share in the first fiscal year, which ends on December 31, 2022. After that, it expects the dividend to reach 4p per share for fiscal year 2023.
It also targets a total return on net asset value per share of between 8% and 10% per year once all of the initial proceeds have been invested.
Pantheon has a portfolio of co-investment opportunities of over £ 1 billion as of October 8, 2021, which the company says are “predominantly no management fees, no deferred interest”, and will seek to build up a diversified portfolio of eight to twelve. active within nine to 12 months of the IPO.
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 access attractive risk-adjusted returns from infrastructure assets that benefit long-term contractual cash flows. , and have a positive correlation with inflation and a favorable exposure to secular changes in society.
“Pantheon has a proven track record of delivering strong returns by applying a disciplined investment process to a globally diversified portfolio and we are confident that their approach, which focuses on co-investment, thereby minimizing costs while by maximizing the number of investment opportunities to which it can access, offers an interesting and differentiated opportunity for investors.