Pantheon Amasses $5.3B for Historic Fundraise

Global private markets giant Pantheon has completed its largest fundraise to date, with a $5.3 billion close for its secondaries-focused infrastructure program, Pantheon Global Infrastructure Fund IV, and associated vehicles.

The fund is currently 75% deployed, with more than 90% of capital committed to a broad range of LP portfolio and GP-initiated secondaries transactions, the firm said.

Pantheon has invested about $7.6 billion in infrastructure secondaries since 2010, positioning itself as one of the first movers in the space.

“Pantheon has a current pipeline of more than $12 billion in infrastructure secondaries, enabling us to be highly selective in executing on compelling opportunities that we believe will deliver strong risk adjusted-returns to our investors,” said Andrea Echberg, partner and global head of infrastructure.

The fund continues the growth of the firm’s wider real assets platform, which as of the second quarter of 2023 had over $20 billion in discretionary assets under management across infrastructure and real assets, and real estate.

The latest fund builds on the growing momentum across Pantheon’s secondaries investment programs, including its largest-ever private equity secondaries raise of $3.25 billion for Pantheon Global Secondaries Fund VII and associated vehicles in November 2023.

Furthermore, the firm pioneered the market for private credit secondaries, launching the first dedicated fund in 2018 and today managing more than $4.5 billion in credit secondary capital, according to the company.

The firm has deployed more than $28 billion across private equity, infrastructure, real estate and private credit investments over its 35-year history.