Pantheon's Steers: Positioning in private equity amid the pandemic

Shifting to areas less affected by crisis

Lauren Mason speaks to Helen Steers, who was named primary manager of the £1.5bn Pantheon International investment trust (PIP) in February this year. She has been a partner at Pantheon since 2004 and has worked closely on PIP alongside former manager Andrew Lebus since 2015.

It has been an unprecedented time for economies across the globe and therefore markets. Has the coronavirus led to any repositioning of the portfolio? Pantheon has a very long-term time horizon. The underlying instruments we invest in are very long term as well. But over the last few years, we have been shifting into areas that have incidentally been less negatively impacted by the crisis. For example, the biggest sector in our portfolio is information technology, and recently businesses have been doing everything they can to enable remote working. We were already shifting our portfoli...