Pantheon PIP invests £51m in secondaries

The listed vehicle invested in six secondaries deals in the three months to the end of August, including transactions in transport, energy and turnaround funds.

Pantheon International Plc, Pantheon’s listed investment vehicle, made six secondaries investments in the three months to the end of August in strategies including energy, transport and turnaround.

The London-listed fund of funds invested £50.5 million ($67 million; €57 million) in these deals, according to a monthly update published at the end of September. The transactions include:

  • £9 million in a portfolio of North American buyout, growth and turnaround funds that was 91 percent funded at completion;
  • £2.8 million in an Iberian mid-market buyout fund;
  • £10.4 million in a North American mid-market buyout fund;
  • £3.2 million in a European small buyout fund; and
  • £13.7 million in a portfolio of five energy and transport assets

Secondaries deals accounted for 40 percent of PIP’s £125 million worth of total investments during the period by value. The vehicle made 22 investments over the three months, including five primary commitments and 11 co-investments.

PIP’s private equity assets stood at £1.5 billion as of 31 August, up 25 percent from £1.2 billion at the same point last year.

The vehicle is a subsidiary of London-based Pantheon, which had $36 billion in assets under management as of 31 March.