Responsible investment (''RI'') is an important principle for Pantheon as well as for many of our clients. Accordingly, Pantheon was the first private equity fund-of-funds to sign up to and approve the Principles for Responsible Investment (''PRI'') on 4th October 2007. The six principles establish global best practice for RI and are a useful framework aimed at improving social, environmental and corporate governance.

The Principles are integrated into Pantheon's investment analysis and decision-making process, as well as during post-investment monitoring where we seek to discuss RI issues in advisory board meetings. Our presence on over 180 advisory boards and our strong relationships with trade bodies means we are well placed to act as advocates for RI.

This is an evolutionary process and as RI gains traction within the wider private equity industry, we are keen to play our part in the future of this initiative. We are committed to making the spirit of the Principles work for all parties and believe that adoption of the PRI initiatives will ultimately benefit private equity investors and the industry as a whole.

The following chart shows the six principles of RI which Pantheon is committed to: