The investment from the UK entity was part of a £100m commitment to four different Pantheon funds. Pantheon is targeting $2.5bn for its Pantheon Global Secondary Fund V.
Details of the Philadelphia-based firm's latest fund of funds vehicle, which can invest up to 20% in secondaries, were revealed in an October presentation to an investor.
The secondaries fund targeting high net worth individuals purchased a $25m portfolio of fund stakes from The Regents of University of California.
The Boston-based firm is targeting $450m for its Permal Private Equity Opportunities V, which already has a commitment from Dallas-Fort Worth International Airport Retirement System.
Growing competition for underlying assets are the biggest challenge for primary GPs but will create future opportunities for secondaries, according to Investec's GP Trends 2015 report.
The bank is letting the investments run through the end of their life and may tap the secondaries market only if interests remain by the Volcker Rule’s July 2017 deadline.
Amendments to the UK's 2015 Summer Finance Bill were added to confirm certain taxes will not apply when fund managers dispose of their carried interest rights.
The firm’s seventh venture capital fund of funds will make some secondaries investments in funds and companies.
Lexington invested out of its $10bn LCP VIII vehicle, the biggest secondaries fund ever raised.
The Geneva-based firm will launch a secondaries fund targeting 'under the radar' deals before year-end.
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