Pantheon, a private markets investor, announced the launch of two funds to expand its private wealth offerings across asset classes in key growth markets globally.
Leveraging expertise in evergreen product structuring, Pantheon is focused on meeting the needs of private wealth investors seeking diversified portfolios and access to “exclusive market segments.”
The funds, focusing on secondaries investments in private credit and private equity, respectively, capitalize on Pantheon’s experience in mid-market secondaries investing.
P-SECC brings US private wealth investors access to private credit secondaries in an evergreen interval fund structure and will provide US investors with exposure to “a diversified private credit secondaries portfolio focused primarily on senior debt investments sourced through Pantheon’s global private credit platform.”
Since Pantheon announced the expansion of our US private wealth offering with a private credit secondaries fund in October 2023, P-SECC has grown to more than “$435m in assets under management.”
Secondaries can provide an entry point, allowing investors to acquire interests in existing private credit funds “at potentially attractive prices and returns.”
P-SECC offers a gateway to Pantheon’s platform, designed to meet the needs of private wealth investors seeking income and growth in their portfolios.
After the Nov 2023 launch of Pantheon’s evergreen private equity fund for global investors, their international offering, the Pantheon Global Private Equity Fund (PGPE), is reportedly available in more than 27 jurisdictions across Latin America, Europe, Asia, and now to wholesale investors in Australia via the feeder fund, the Pantheon Global Evergreen Mid-Market Secondaries (PGPE) or (‘PGPE Feeder’), distributed by Longreach Capital Advisors.
The PGPE Feeder is an open-ended evergreen fund available to eligible investors in Australia that seeks to provide private and institutional investors with unique exposure to “a diversified private equity portfolio through a single investment.”
The feeder fund offers exposure to Pantheon’s integrated evergreen private equity secondaries, co-investments and primaries solution “through the PGPE platform, with a focus on the mid-market.”
Pantheon is a key player focused on private credit and private equity secondaries, leveraging experience to identify and capitalize on “opportunities to access mature, high-quality assets at potentially attractive valuations.”
Pantheon has been at the forefront of private credit secondaries since launching the market’s “first dedicated fund in 2018.”
The firm committed around $6B to more than 130 investments and has raised over $8 billion from “a range of institutional and private wealth investors.”
Pantheon’s investment vehicles provide exposure to more than 85 private credit GPs and 4,000 companies.
Pantheon’s private credit team has a track record of sourcing and managing high-quality secondary investments, providing “strong risk management and potentially generating attractive performance.”
The firm’s comprehensive strategies span the entire credit spectrum, providing “clients with diversified investment solutions.”
As noted in the update, Pantheon’s private equity secondaries track record dates back to the firm’s first “investments in the segment in 1988 and includes over $23bn of commitments across 450+ investments, encompassing the full range of both traditional LP-led and GP-led secondaries opportunities.”
Pantheon has notably raised $3.25bn for its largest-ever private equity secondaries program, “exceeding its target, and reflecting growing interest in the strategy over recent years – particularly in the current market environment.”
With a range of evergreen solutions and bespoke funds, Pantheon offers private wealth investors flexibility, “diversification, and access to high-quality private market investments.”
The firm’s experience in structuring products for private wealth investors enables Pantheon to create investment vehicles that “meet the complex needs of private wealth investors with an ongoing focus on driving long-term value and performance.”
P-SECC is the second evergreen vehicle launched for the US private wealth market on Pantheon’s private wealth platform and sits “alongside the AMG Pantheon Fund (P-PEXX), which launched in 2015 and is one of the largest and most established registered private equity funds in the US, with approximately $4.4bn in assets under management.”