London-based private equity investment trust Pantheon International Participations did well in the year to
30 June 2008.  Total net assets rose 21 per cent to £736 million ($1,366 million) from £610 million at
30 June 2007. But the discount to
NAV for ordinary shares widened during the year, as at most London-listed PEITs, to 32 per cent.

The firm says it has benefited from the diversity of its portfolio, covering both top tier primary funds and secondary assets, ranging from venture capital through to buyouts (the latter predominantly mid-market) in
Europe, the

Americas and
Asia. 

PIP committed £357 million in the year, comprising £237 million to 36 new funds (14 venture, 19 buyout and 3 special situations), £113 million to 13 secondary transactions and £7 million to four direct co-investments.