Pantheon launches evergreen private equity fund for global investors on growing private wealth platform

14 November 2023

Pantheon, a leading global private markets investor, is pleased to announce the upcoming launch of the Pantheon Global Private Equity Fund (PGPE), the latest addition to the firm’s growing global private wealth platform. PGPE is an open-ended, evergreen fund that seeks to provide private and institutional investors with unique exposure to a diversified private equity portfolio through a single investment.

PGPE will soon be available to investors in more than 20 countries outside of the US, with a differentiated offering that leverages Pantheon’s established global private equity platform to construct a high-conviction portfolio concentrated in high-quality, hard-to-access assets and fund managers, with a focus on the mid-market. The fund will harness Pantheon’s extensive and often-proprietary deal flow in secondaries and co-investments, which are increasingly compelling for investors given potentially attractive secondary pricing and efficiency in fees, and includes a quarterly liquidity mechanism.

The fund launch builds on the momentum and success of Pantheon’s $7bn global private wealth platform, which has a 35-year track record and includes a range of evergreen fund solutions. This includes the AMG Pantheon Fund, one of the largest registered private equity funds in the US with close to $2.4bn under management, that similarly offers access to a global private equity portfolio sourced from across Pantheon’s global platform through a single investment and with quarterly liquidity.

Victor Mayer, Managing Director at Pantheon and Portfolio Manager of PGPE, commented: “Pantheon continues to innovate to meet increasing demand from an array of private and institutional investors to access the best opportunities across private markets. PGPE will offer a compelling solution that combines diversified access to US and European mid-market private equity and immediate participation to achieve a target allocation through a single investment, without the high investment minimums and long capital lock-ups typical in traditional funds.”

He continued: “The timing for PGPE could not be better, with a slowdown in exit activity and a more challenging fundraising environment increasing the flow of secondary and co-investment opportunities, and creating a potentially attractive valuation and pricing environment in which to invest on behalf of our clients.”

PGPE is managed by Pantheon, which has more than 40 years of experience across private markets, with specialized expertise in private equity, real assets and private credit and approximately $62bn in discretionary assets under management. Pantheon’s longstanding leadership in private equity investing extends across its dedicated strategies that cover the full lifecycle of investments, from primary fund commitments to direct co-investments and secondaries. The firm’s private equity platform has approximately $38bn in discretionary assets under management and boasts a team of 87 investment professionals, who collectively oversee an annual commitment pace across the asset class of $4-5bn.

Pantheon is a pioneer in private equity secondaries, with a track record dating back to the firm’s first investments in the segment in 1988 and extensive experience gained from $18.2bn of commitments across the full range of both traditional LP-led and GP-led secondaries opportunities. In addition, the firm has been active in private equity co-investments since 1997 and has committed $6.6bn across 290+ transactions since launching its dedicated strategy in 2009.

Susan Long McAndrews, Partner and Global Head of Business Development, said: “We are excited to bring Pantheon’s specialist expertise to investors around the world, deepening our commitment to opening private markets to a wider range of prospective investors across our global private wealth platform. Our time-tested record of investing in private equity generally, and secondaries and co-investments in particular, will be a compelling proposition for investors to access this dynamic and evolving asset class.”

Source: Pantheon