Pantheon, a global private markets investor, has announced Kathryn Leaf as its new CEO, effective January 1, 2025. She will succeed Paul Ward, who will be executive chairman. 

Leaf, a 15-year Pantheon veteran, will manage the firm’s private equity, private credit, infrastructure, and real estate divisions, as well as its global secondary strategies. She has been involved in private markets for more than 25 years. She is co-head of investment and global head of real assets, and a member of the executive committee and partnership board. 

Since becoming a partner in 2012, Leaf has led the development of the firm’s infrastructure platform and has been an integral member of the team that has overseen its growth to over $20 billion, including Pantheon’s recent, largest-ever fundraise in January. She also helped launch the firm’s dedicated real estate platform in 2021. 

Ward will take on a senior advisory role after a two-decade tenure at Pantheon. He joined in 2003 as a vice president in the secondaries team and oversaw the firm’s expansion to $62 billion in discretionary assets under management during his 11-year period as managing partner. 

“Kathryn has played a leading role developing our business during a critical period in our 40-year history, both in terms of the increasing scale and success of our diverse private market investment strategies, as well as our enhanced operating structure and growth trajectory,” said Ward. 

Pantheon also announced Jeff Miller’s ascension to CIO. He is currently the global head of private equity and a member of the firm’s executive committee and partnership board. 

Pictured: Kathryn Leaf