Pantheon sells fund interests to boost liquidity

PIP, the London-listed investment trust of Pantheon Ventures, has sold a number of its fund interests in an effort to boost the company's liquidity and thereby meet its commitments.

The fund interests that the firm has agreed to dispose include a significant percentage which are unfunded commitments - totalling £154m. This will effectively reduce PIP's unfunded commitments from £687m to £533m.

The quoted private equity fund-of-funds anticipates a loss of approximately £68m on the holding value of these assets.

Managing partner Andrew Lebus was cited in the company statement as saying that he expects these transactions are "sufficient to enable (PIP) to finance all remaining commitments."

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