Pantheon has closed over $1 billion of capital into its commingled program and separate accounts.
This markedly exceeds the targeted fundraising and is more than twice the size of Pantheon's inaugural 2009 vintage program. The commingled program was substantially oversubscribed.
Kathryn Leaf Wilmes, Partner and Global Head of Infrastructure and Real Assets at Pantheon, stated:
"We are delighted with the response our 2014 infrastructure program has received. We developed a compelling investment proposition, which has generated strong interest from new geographic markets, notably in Asia, while maintaining robust demand from North America and Europe."
Pantheon's second vintage global infrastructure commingled program has a focus on secondaries where Pantheon has been an early mover and where the firm continues to see compelling investment opportunities. In addition, Pantheon will be active in primaries and co-investments, and expects to continue to support and partner with infrastructure General Partners including several with whom the firm has invested since their first fund.
Since the 2014 vintage program was developed, Pantheon has committed capital to seven transactions. As of March 16th, 2015, Pantheon's 2014 commingled fund program has committed 19% of its capital and has three additional transactions currently being finalized. Ms. Leaf Wilmes commented:
"The 2014 vintage program is off to an encouraging early start. Having our investment professionals present in several local markets underpins and enhances our ability to access, screen and transact attractive global opportunities."
Investors in Pantheon's 2014 global infrastructure program include a mix of new and re-upping global institutional investors.
Pantheon has also formalized its long-standing experience in energy and other real assets with the appointment of Evan Corley, a Principal in Pantheon's investment team, into a newly created position of Head of Natural Resources within Pantheon's Global Infrastructure and Real Assets team. Ms. Leaf Wilmes added:
"This is a natural evolution for our business. We have been investing in energy for over 18 years and in infrastructure assets since 1994. We are now able to offer clients exposure to the real assets space through a dedicated team and strategy."
The team will work closely with separate account clients looking to commit capital into real assets.