Pantheon International, the listed arm of fund of funds Pantheon, reported a 15% fall in pretax profit for the first half of fiscal 2016 and said it has substantial financial strength to take advantage of more favorable pricing conditions, whether in the secondaries market or through its primary commitments and co-investment activity.

The UK-based investor in private equity assets said its net asset value in the period rose 8% and the net cash flow generated from its portfolio amounted to £117 million ($162.2 million).