Pantheon raises $1billion for second infrastructure fund

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Pantheon raises $1billion for second infrastructure fund

Global private equity fund-of-funds manager Pantheon has raised close to US$1 billion for its second global infrastructure fund, according to media reports.

Although Pantheon did not confirm the news, sources said that Pantheon Global Infrastructure Fund II is close to $1 billion raised, exceeding its initial aim of $700 million.

A filing with the Securities and Exchange Commission on the vehicle's close is anticipated around July, said another source with knowledge of the situation.

Pantheon's latest infrastructure fund will be focused on making secondary investments in the infrastructure sector.

Pantheon, which has US$28.8 billion under management, has an infrastructure team of eight professionals based in the U.S., Europe and Asia. Its infrastructure funds primarily focus on the development markets, but also consider selective investments in developing economies, according to Pantheon's website.

Last year the firm hired Andrea Echberg from Société Générale as partner and head of European infrastructure investments. Its infrastructure team is headed by Kathryn Leaf Wilmes, who joined Pantheon in in 2008.

Earlier this year Orange County Employees Retirement System picked Pantheon to manage its fund of funds programme. The pension system proposed commitments of between $50 million and $100 million annually to Pantheon for 2014, 2015 and 2016 vintage years.

We also confirmed in May that Sacramento County's public pension had partnered with Pantheon to buy infrastructure assets from the secondary market.

The $7.5 billion public pension fund plans to invest $100 million through the partnership over the next three years as a "base case."

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