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Pantheon launches evergreen private equity fund for global investors on growing private wealth platform

November 13, 2023
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  • Pantheon Global Private Equity Fund (PGPE) is the latest addition to the firm’s expanding suite of evergreen products
  • Through a single investment, PGPE will offer access to a diversified private equity secondary and co-investment portfolio sourced from across Pantheon’s global platform
  • Fund harnesses Pantheon’s extensive track record and expertise in secondaries and co-investments, with a focus on the mid-market
  • PGPE will soon be available to investors in more than 20 countries outside of the US and includes a quarterly liquidity mechanism
November 13, 2023
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Pre-Marketing Disclosure: This material does not constitute an offer. Information herein liable to be modified or withdrawn. This material is intended for indicative and exploratory purposes only.

Pantheon, a leading global private markets investor, is pleased to announce the upcoming launch of the Pantheon Global Private Equity Fund (PGPE), the latest addition to the firm’s growing global private wealth platform. PGPE is an open-ended, evergreen fund that seeks to provide private and institutional investors with unique exposure to a diversified private equity portfolio through a single investment.

PGPE will soon be available to investors in more than 20 countries outside of the US, with a differentiated offering that leverages Pantheon’s established global private equity platform to construct a high-conviction portfolio concentrated in high-quality, hard-to-access assets and fund managers, with a focus on the mid-market. The fund will harness Pantheon’s extensive and often-proprietary deal flow in secondaries and co-investments, which are increasingly compelling for investors given potentially attractive secondary pricing and efficiency in fees, and includes a quarterly liquidity mechanism.

The fund launch builds on the momentum and success of Pantheon’s $7bn global private wealth platform, which has a 35-year track record and includes a range of evergreen fund solutions1. This includes the AMG Pantheon Fund, one of the largest registered private equity funds in the US with close to $2.4bn under management, that similarly offers access to a global private equity portfolio sourced from across Pantheon’s global platform through a single investment and with quarterly liquidity2.

Victor Mayer, Managing Director at Pantheon and Portfolio Manager of PGPE, commented: “Pantheon continues to innovate to meet increasing demand from an array of private and institutional investors to access the best opportunities across private markets. PGPE will offer a compelling solution that combines diversified access to US and European mid-market private equity and immediate participation to achieve a target allocation through a single investment, without the high investment minimums and long capital lock-ups typical in traditional funds.”

He continued: “The timing for PGPE could not be better, with a slowdown in exit activity and a more challenging fundraising environment increasing the flow of secondary and co-investment opportunities, and creating a potentially attractive valuation and pricing environment in which to invest on behalf of our clients.”

PGPE is managed by Pantheon, which has more than 40 years of experience across private markets, with specialized expertise in private equity, real assets and private credit and approximately $62bn in discretionary assets under management3. Pantheon’s longstanding leadership in private equity investing extends across its dedicated strategies that cover the full lifecycle of investments, from primary fund commitments to direct co-investments and secondaries. The firm’s private equity platform has approximately $38bn in discretionary assets under management and boasts a team of 87 investment professionals4, who collectively oversee an annual commitment pace across the asset class of $4-5bn5.

Pantheon is a pioneer in private equity secondaries, with a track record dating back to the firm’s first investments in the segment in 1988 and extensive experience gained from $18.2bn6 of commitments across the full range of both traditional LP-led and GP-led secondaries opportunities. In addition, the firm has been active in private equity co-investments since 1997 and has committed $6.6bn across 290+ transactions since launching its dedicated strategy in 20097.

Susan Long McAndrews, Partner and Global Head of Business Development, said: “We are excited to bring Pantheon’s specialist expertise to investors around the world, deepening our commitment to opening private markets to a wider range of prospective investors across our global private wealth platform. Our time-tested record of investing in private equity generally, and secondaries and co-investments in particular, will be a compelling proposition for investors to access this dynamic and evolving asset class.”

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Pantheon

Ashley Wassall
Head of Client Communications
Tel: +44 20 3356 1763 | C: +44 7776 778 620
Email: ashley.wassall@pantheon.com

Pantheon* has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, from primary fund commitments to co-investments, secondary purchases and direct customized solutions, across private equity, real assets and private credit.

We have partnered with more than 1,000 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $62bn in discretionary assets under management and a combined $94.6bn in assets managed or advised (as of June 30, 2023) through a wide range of pooled funds and bespoke, customized accounts.

Using creative approaches informed by our specialized experience and delivered by a global team of professionals based in offices across Europe, the Americas and Asia, we invest with purpose and lead with expertise to build secure financial futures.

* Pantheon refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo, Dublin and Singapore. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the U.S. Securities and Exchange Commission (“SEC”); Pantheon Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB). Pantheon Ventures (Ireland) DAC is regulated by the Central Bank of Ireland (“CBI”) and is an appointed representative of Pantheon Ventures (UK) LLP in respect of activities carried out in the United Kingdom. Pantheon Ventures (Singapore) Pte. Ltd holds a capital markets service license from the Monetary Authority of Singapore (“MAS”) to conduct fund management with accredited and institutional investors.

Interests in Pantheon Global Private Equity Fund, a sub-fund of Pantheon Private Markets SICAV SA Fund (the “Fund”) have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”), or the applicable securities laws of any United States state or any non-United States jurisdiction. The interest in the Fund may not be offered, sold or delivered directly or indirectly in the United States or to or for the account or benefit of any “U.S. Person” except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and any applicable state laws. As such, any “U.S. Person” may not receive and should not act or rely on this announcement or any other materials related to the Fund.

The information contained in this announcement is being made available solely for information purposes. Any potential investors are urged to carefully read the applicable Prospectus and other materials in their entirety before making an investment decision.

Any potential investors should conduct their own investigations and analysis of Pantheon, the Fund and the information set forth in the applicable Prospectus and other materials. Nothing in this announcement or the other applicable materials should be construed as a recommendation to invest in any securities or as legal, accounting or tax advice. Before making any decision to invest in the Fund, potential investors should carefully review information relating to Pantheon and the Fund and consult with their own legal, accounting, tax and other advisors when considering the merits of any investment.

The AMG Pantheon Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.

This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2023

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Business Update Private Wealth Pantheon Global Private Equity

1Refers to assets attributed to our London Stock Exchange-listed investment trusts Pantheon International Plc and Pantheon Infrastructure Plc, and the US-registered private equity fund the AMG Pantheon Fund LLC, as of June 30, 2023.

2The Advisor intends to recommend quarterly repurchases of Units representing up to 5% of the Fund’s NAV, although such recommendations may exceed 5% of the Fund’s NAV, subject to Board approval; 2% early repurchase fee imposed for repurchases within one year of investment. Investors may not be able to fully liquidate investments for a long period of time and should not invest money needed in the near- to medium term.

3Pantheon had $61.7bn in discretionary AUM as of June 30, 2023. The firm had $94.6bn in total AUM/AUA, including $32.9bn in assets subject to non-discretionary management or advice.

4As of September 30, 2023.

5There is no guarantee that this will persist.

6Pantheon internal data. Commitment data since inception and as of June 30, 2023.

7Commitment data as of June 30, 2023.