Legal & Risk Notice

This website is operated by Pantheon Ventures (UK) LLP (“Pantheon”) of 10 Finsbury Square, 4th Floor, London EC2A 1AF and Pantheon Infrastructure Plc (“PINT” or the “Company”). PINT is an investment trust company whose shares are listed and traded on the London Stock Exchange. PINT is an investment company as defined by Section 833 of the Companies Act 2006 and is registered in England and Wales with Company number: 13611678. Information communicated through use of this website is communicated by Pantheon. By accessing or using this site, you acknowledge that you have read and understood the Important Information and have agreed to and accepted, without limitation or qualification, the Terms of Use set out below. If you do not agree to the Terms of Use, you may not access or use the site.


Pantheon is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FCA Reference Number 520240) and has permission under Part 4A FSMA 2000. Pantheon is PINT’s manager and receives a monthly management fee at the rate of 1 per cent. per annum on the value of PINT’s net asset value up to and including £750 million and at the rate of 0.9 per cent. per annum on the PINT’s net asset value above £750 million. No management fee will be charged on uninvested cash (save as required for working capital or hedging purposes) until 75 per cent or more of the net initial proceeds of the initial issue of shares in PINT have been invested or committed for investment.

Important Information

Status of Information

The information on this website does not constitute or form part of an offer to sell or an invitation to purchase or subscribe for shares or other securities of PINT, nor may it or any part of it form the basis of, or be relied upon in connection with, any contract relating thereto. The information on this website is provided for general information, is not comprehensive, is not intended to constitute any recommendation to acquire or dispose of any securities or apply for or use any investment related service or product and does not constitute investment, legal, tax or other advice. You should seek individual advice from an appropriate independent financial and/or other professional adviser before making any investment or financial decision or applying for or using any such investment related service or product.

Jurisdictional Restrictions

The information contained on this website is intended only for, and may be only accessed by, persons in the United Kingdom and persons in any other jurisdiction to whom such information can be lawfully communicated without any approval being obtained or any other action being taken to permit such communication where approval or other action for such purpose is required. The information on this website is not directed at and is not for use by any other person and it may not be lawful to access the information in other jurisdictions.

The information contained on the website is not for release, publication or distribution, directly or indirectly, in whole or in part, in or into any jurisdiction where its release, publication or distribution is or may be unlawful. In particular, this website may not be accessed from and the information on this website is not directed at and is not for use by and may not be released, published or distributed in or into the United States Canada, the Republic of South Africa, New Zealand, Japan or Australia or to any US Person (as such term is defined in Regulation S under the Securities Act) or to any person in any member state of the EEA (with the exception of the Republic of Ireland and The Netherlands with effect from the time that PINT is registered with the national private placement regime in these jurisdictions, and only then to professional investors in such jurisdictions) or any jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction. The information on this website is for information purposes only and does not constitute or form a part of any offer or invitation to sell or issue, or the solicitation of any offer to purchase or subscribe for, securities.

Shares in PINT may not be sold, offered or delivered in any jurisdiction in which registration or any other action for such purpose is required. No securities of PINT have been or will be registered under the US Securities Act of 1933, as amended (the “Securities Act”) or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold, transferred or delivered, directly or indirectly except outside the United States to persons who are not US Persons (as such term is defined in Regulation S under the Securities Act) in reliance on the exemption from the registration requirements of the Securities Act provided by Regulation S. In addition, PINT has not been, and will not be, registered under the United States Investment Company Act of 1940, as amended. There will be no public offer of securities in the United States.

If you are not permitted to view this website or are in any doubt as to whether you are permitted to view this website, please exit this website immediately. This website must not be accessed from, and its contents must not be released or otherwise forwarded, distributed or sent, directly or indirectly, in whole or in part, outside the United Kingdom in or into any jurisdiction where the release, forwarding or distribution of such materials would or may breach any applicable law or regulation or would require any registration or licensing within such jurisdiction and in particular not in or into the United States, Canada, the Republic of South Africa, New Zealand, Japan or Australia or to any US Person (as such term is defined in Regulation S under the Securities Act). In addition the shares in PINT may only be offered in any EEA jurisdiction to the extent that such securities: (i) are permitted to be marketed into the relevant EEA jurisdiction pursuant to the Alternative Investment Fund Managers Directive (Directive 2011/61/EU) as implemented in the relevant EEA jurisdiction by applicable local implementing measures; or (ii) can otherwise be lawfully offered or sold (including on the basis of an unsolicited request from a ‘professional investor’ (as that term is used in the AIFMD). Persons receiving any such materials (including, without limitation, custodians, nominees and trustees) should observe these restrictions. Neither PINT, Pantheon nor their respective advisers accept any responsibility for any violation by any person of any of these restrictions.

Risk Considerations

The value of investments, and the income from them, may go down as well as up, and is not guaranteed and an investor may not get back the amount of money invested. There is no assurance that the investment objective of PINT will be achieved. Further, the market price of PINT shares may not fully reflect their underlying net asset value and it is not uncommon for the market price of PiNT shares to trade at a substantial discount to their net asset value. This discount may increase or reduce due to market factors which are unrelated to PINT’s net asset value or performance. You should also remember that past performance cannot be relied on as a guide to future performance and that rates and levels of taxation may change. The spread between the purchase and sale prices for certain investment trusts, and classes of investment trust, can be wide. This means the purchase price can be considerably higher than the sale price.

You should also note the following risks relating to investments made by PINT:
PINT will invest predominantly in unquoted infrastructure investments which are less readily marketable than quoted securities and may take a long time to realise. In addition, such investments may carry a higher degree of risk than investments in quoted securities. PINT may be adversely affected by these risks notwithstanding the level of diversification which PINT seeks to achieve in relation to its investment portfolio.

PINT intends to use a borrowing facility to make investments in order to manage its cash flow flexibly without having to retain significant cash balances. The use of borrowings should enhance net asset value per share where the value of PINT’s underlying assets is rising, but will lead to a correspondingly greater percentage reduction in net asset value per share in the event of a reduction in the value of PINT’s investments. In addition, PINT may from time to time invest in unquoted infrastructure investments which are geared by loan facilities and otherwise which are likely to rank ahead of PINT’s investment both for payment of interest and capital. Accordingly, PINT may be exposed to gearing by such unquoted infrastructure investments.

There is no guarantee that PINT will find sufficient suitable investment opportunities to achieve the level of diversification which PINT seeks to achieve in relation to its investment portfolio.
Infrastructure investments are long term in nature and may take some years before reaching a level of maturity at which they can be realised. Accordingly, it is possible that PINT may not receive a return on investments made by it for a number of years.

In valuing its unquoted infrastructure investments and in publishing its net asset value, PINT relies to a significant extent on the accuracy of financial and other information provided by these unquoted infrastructure investments to Pantheon. Valuation methods used by those funds and companies may be inconsistent.

At any given time, PINT may have outstanding, unpaid commitments to infrastructure investments which are substantial relative to PINT’s assets. PINT’s ability to meet these commitments (and avoid the potentially adverse consequences of default) may depend on PINT receiving cash distributions from its investments and, to the extent these are insufficient, on the continuing availability of PINT’s financing facilities.

PINT invests in overseas markets. Accordingly, changes in exchange rates may cause the value of an investment to go up or down.

Most of the unquoted infrastructure investments in which PINT invests are not subject to regulation by the Financial Conduct Authority or an equivalent regulatory body. Such unquoted infrastructure investments may be in jurisdictions which do not provide an equivalent level of investor protection to that provided in the United Kingdom.

PINT is dependent upon Pantheon as its manager and may be adversely affected if the services of Pantheon cease to be available to PINT.

If PINT fails to continue to meet the qualifying conditions for an investment trust, this may result in the loss of the exemption from liability for corporation tax on chargeable capital gain.
Other principal risks associated with PINT’s activities are described in PINT’s published prospectus available in the Investor Information/Key Investment Documents section on PINT’s website.

Terms of Use

Use of Website. Your access to and use of any information contained in the website is subject to these Terms of Use. Pantheon reserves the right to change these Terms from time to time without notice, as it deems necessary and to alter or delete materials from this website at any time at its discretion.

Content. Pantheon will use reasonable efforts to include accurate and up-to-date information on this website, but makes no warranties or representations of any kind as to and shall not be responsible for the accuracy, currency, completeness or fitness for purpose of any such information. You agree that access to and use of this website and reliance on the content thereof is at your own risk and you assume responsibility for determining whether any laws or regulations limit your access to any use of information or any investment or other product described on this website.

Disclaimer of Liability. Save to the extent required by applicable law and regulatory requirements, Pantheon and the Company shall not be liable for any loss or damages, including without limitation, direct, incidental, consequential, indirect or punitive loss or damages, arising out of access to, use of or inability to use this website, or any errors, inaccuracies or omissions in the content thereof.

Indemnification. You agree to indemnify, defend and hold harmless the Company, Pantheon and their respective its officers, members, directors, employees, agents, suppliers and third party partners and those of their respective affiliates from and against all losses, expenses, damages and costs, including reasonable attorneys’ fees, resulting from any violation by you of these Terms of Use.

Third Party Websites and Links. This web site may contain data or information obtained from or links to websites operated or controlled by, or be accessed from links provided by, persons other than Pantheon. Any such data, information and links are for information purposes only. Pantheon makes no warranties or representations of any kind as to the accuracy, currency, or completeness of any such data or information or of any material or information accessed or obtained through any such links and has not and will not review or update such data, information or material. Use of any such data, information or material is at your own risk. Pantheon accepts no responsibility for such data, information or material and shall have no liability for any damages or injuries of any kind arising from the use or reliance on any such data, information or material.

Non-Confidential Information. Any communication or other material that you send to us through the internet, or post on this website by electronic mail or otherwise, is and will be deemed to be non-confidential and Pantheon shall have no obligation of any kind with respect to such information. Pantheon shall be free to use any ideas, concepts, know-how or techniques contained in such communication for any purpose whatsoever, including but not limited to, developing and marketing its investment programmes.

Trade marks. All logos and slogans, company and product names, whether or not appearing in large print or with the trade mark symbol, are trade marks of Pantheon, its affiliates, related companies or its licensors or joint venture partners, unless otherwise noted. The use or misuse of these trade marks, or any other trade marks represented on this website is expressly prohibited.
Copyright. The entire contents of this website are subject to copyright protection: Copyright © 2021 Pantheon All rights reserved. The contents of this website may not be copied other than printing or downloading to local hard disc extracts for non-commercial individual reference with all copyright or other proprietary notices retained, and thereafter may not be recopied, reproduced or otherwise redistributed. Except as expressly provided above, you may not copy, display, download, distribute, modify, reproduce, republish or retransmit any information, text or documents contained in this website or any portion thereof in any electronic medium or in hard copy, or create any derivative work based on such images, text or documents, without the express written consent of Pantheon.

Other Intellectual Property Rights. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any licence or right under any patent or other intellectual property right of Pantheon or any third party. Unauthorised use of content from this website may be in violation of patent law, the law of defamation, the law of privacy and publicity, or communications regulations and statutes.

Governing Law. These Terms of Use and your use of this website shall be governed by the laws of England without regard to its conflicts of laws principles. In relation to any dispute arising out of or in connection with this website or these Terms of Use, you irrevocably and unconditionally submit for the benefit of Pantheon to the exclusive jurisdiction of the Courts of England and Wales.
Miscellaneous. If any provision of these Terms of Use is held to be unlawful, void or unenforceable, then such provision shall be severable without affecting the enforceability of all remaining provisions.

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