Pantheon exceeds $1bn for second infra programme

The secondaries-focused effort, which includes a commingled strategy and separate accounts, is around twice the size of the firm’s 2009-vintage programme.

Pantheon, the London-based private markets fund manager, has closed its secondaries-focused 2014 global infrastructure programme on over $1 billion of capital. The vehicle includes a commingled programme and separate accounts.

A statement from the firm said the commingled fundraising was “substantially oversubscribed”. The firm’s only previous global infrastructure programme, a 2009-vintage, was reported to have closed on slightly more than $500 million.

The latest programme has a focus on secondaries, while also being active in primaries and co-investments. It said it expects to “continue to support and partner with infrastructure general partners including several with whom the firm has invested since their first fund”.

Since the launch of the 2014 programme, it has committed capital to seven transactions which, as of yesterday, amounted to 19 percent of the programme’s total capital. The firm says three additional transactions are currently being finalised.

Kathryn Leaf Wilmes, Pantheon’s partner and global head of infrastructure and real assets, said in the statement that the fundraising had “generated strong interest from new geographic markets, notably in Asia, while maintaining robust demand from North America and Europe”.

Also in the statement, Pantheon announced that Evan Corley – previously a principal focused on North American primary investment opportunities – had moved into the global infrastructure and real assets team as head of natural resources.

Pantheon, which had over $31.4 billion in assets under management in September last year, invests in private markets on behalf of over 370 institutional investors. The firm is owned by New York Stock Exchange-listed Affiliated Managers Group alongside senior members of the Pantheon team.