Pantheon closes secondary fund on $900m

The global fund of funds specialist has announced a final close for its second secondary fund.

Pantheon held a final close on its second global secondary fund, rounding up an oversubscribed total of $900 million (€740 million).

Fundraising for the vehicle took less than nine months, according to a press release. Roughly 60 limited partners from around the world committed to the fund, called Pantheon Global Secondary Fund II.

The new fund will be led by Jay Pierrepont, a partner in Pantheon’s San Francisco office. Secondary activity will be led by Elly Livingstone from London. The firm was founded in London in 1982.

“Although we could have raised substantially more for the new fund, we had agreed [on] a cap level based on our expectations of supply and the types of investment we are looking to make,” Pierrepont said in a statement.

The firm claims to have made more than 500 secondary fund purchases and 50 portfolio transactions since its founding.

Earlier this year, Pantheon was acquired by Russell Investment Group. This most recent secondary fund is the firm’s first new vehicle under new ownership.

According to the release, Pantheon continues to hire professionals to its San Francisco and London offices.