Pantheon hires fund placement veteran Albert

Kevin Albert has left Elevation Partners, which he joined in 2005. Albert will work in Pantheon’s New York office.

Pantheon has hired former Elevation Partners managing director Kevin Albert as partner and global head of business development.

Albert will be based in Pantheon’s New York office. He joined Elevation in 2005 at the firm’s inception, and spent 24 years with Merrill Lynch, where he was managing director and global head of the private equity placement group.

“The best way to ensure superior private equity returns today is to place capital with a large, capable and disciplined professional investment management firm – a fund of funds,” Albert said in a statement.

Albert is one of the best-credential investor relations professionals in the business today, having essentially created the business of placing private equity funds some 20 years ago while at Merrill Lynch.

Pantheon has been raising its fourth secondaries fund, and has collected about $2.1 billion, according to a US Securities and Exchange Commission filing from August. The filing indicated the target amount of the fund was about $2.1 billion, which was reduced from a December 2009 filing that gave the target at about $4.7 billion.

Earlier this year, Russell Investments sold Pantheon, with about $22 billion in assets, to Affiliated Managers Group, a New York-listed asset management business.

Elevation was formed in 2005 and raised $1.9 billion. The firm was founded by Silver Lake Partners co-founder Roger McNamee, and one of the firm’s general partners is Bono, the leader singer of U2.