28 March 2022

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PANTHEON INFRASTRUCTURE PLC

Investment in UK-Regulated Gas Transmission Network and Metering Business

Pantheon Infrastructure PLC ("PINT" or the "Company"), the listed global infrastructure fund, has agreed to invest approximately £40m alongside a Macquarie Asset Management-led consortium, which has agreed to acquire a 60% stake in the UK gas transmission and metering business of National Grid.

The business owns and operates the UK's regulated national gas transmission system and an independent gas metering business. The 7,660-kilometre transmission system plays a critical role in the UK energy landscape, reliably transporting the gas needed to heat homes and power industry and electricity generation. The consortium intends to support the UK Government's commitment toward Net Zero by 2050 by facilitating the shift toward low carbon heating.

The investment is in line with PINT's stated strategy of building a diversified portfolio of global infrastructure assets. Specifically, the investment is in the regulated utilities sector, which is attractive given the high visibility of stable and inflation-linked cash flows, as well as growth opportunities available with the transition toward Net Zero.

Richard Sem, Partner at Pantheon Ventures, PINT's investment manager, said: "This is a rare opportunity for investors to access one of the UK's essential energy infrastructure businesses, providing long-term, inflation-linked cash flows under a stable regulatory framework. There's an increasing need for investment in transmission networks and supporting infrastructure as these businesses adapt to the need for a lower-carbon energy mix, and we're excited to announce this next investment as we build out the portfolio."

For further information, contact: 

Notes to editors

PINT

PINT is a closed-ended investment company and an approved UK Investment Trust, listed on the Premium Segment of the London Stock Exchange's Main Market.  The independent Board of Directors of PINT have appointed Pantheon, one of the leading private markets investment managers globally, as investment manager. PINT aims to provide exposure to a global, diversified portfolio of high-quality infrastructure assets through building a portfolio of direct co-investments in infrastructure assets with strong defensive characteristics, typically benefitting from contracted cash flows, inflation protection and conservative leverage profiles.

Further details can be found on PINT's website at www.pantheoninfrastructure.com

LEI: 213800CKJXQX64XMRK69

Pantheon

Pantheon is a leading global private equity, infrastructure & real assets, private debt and real estate investor with 40 years' experience sourcing and executing private market investment opportunities on behalf of clients. Pantheon has $81.2 billion in assets under management and advice (as at 30 September 2021) and employs approximately 400 staff, including more than 115 investment professionals, across offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul, Bogotá, Tokyo, Dublin and Berlin.

Further details can be found at www.pantheon.com