Pantheon, a leading global investment firm, has successfully closed its Secondary Opportunities Fund II (PSOF II) at $1.1 billion, a significant increase of 76.3% from its predecessor fund that closed in October 2021. This new fund will focus on acquiring stakes in high-potential companies managed by general partners who demonstrate strong conviction and alignment with their assets.
For over 14 years, Pantheon has played a pioneering role in the GP-led secondaries market, deploying $6.8 billion across GP-led transactions. With this latest fundraising, Pantheon has boosted its total assets under management in private equity secondaries to approximately $11.3 billion, showcasing its extensive experience and deep relationships within the sector.
Amyn Hassanally, the global head of private equity secondaries at Pantheon, emphasized the growing demand for liquidity in the market, stating that, “GP-led secondaries have quickly become an integral part of the private equity landscape, offering a compelling combination of flexibility, liquidity, and growth potential for managers, investors, and secondaries buyers alike.”
This fund's closing aligns with Pantheon’s broader strategy to capitalize on the evolving market conditions, which have led to increased deal flow and attractive pricing for secondary buyers. Since its inception in 1988, the firm has committed over $24.8 billion across 450 transactions, an impressive track record that further solidifies its leading position in the market.
The PSOF II fund specifically targets companies with significant growth and value creation potential, managed by high-quality general partners. The increase in commitments from its previous program, PSOF I, reflects Pantheon’s ability to expand its global investor base, attracting institutional investors seeking innovative solutions in the private markets.
In November 2023, Pantheon also raised $3.25 billion for its largest-ever private equity secondaries program, underscoring the increasing importance of the sector in the current market environment. This program, which incorporates both LP-led and GP-led strategies, proves the firm’s capability to adapt and respond to market demands.
Pantheon has built its reputation over more than 40 years as a trusted partner for over 650 clients globally, including institutional investors and private wealth advisers, managing approximately $70.8 billion in discretionary assets as of September 30, 2024.
With a focus on continued value generation and liquidity, Pantheon’s new fund aims not only to provide liquidity and flexibility for fund managers but also to enhance value creation opportunities for investors.
This latest capital raise profoundly impacts the GP-led secondary market, highlighting Pantheon’s role as a leader and an innovator in this dynamic field of investment. The company’s ability to tap into emerging trends and maintain a competitive edge ensures its sustained growth and influence in the private equity landscape.
