Pantheon scores nearly $700 mln separate account

Firm: Pantheon

Fund: BVK Private Equity 2014 LP

Raised: €504 million ($688.6 million)

The pool, BVK Private Equity 2014 LP, is described in a recent Form D filed with the Securities and Exchange Commission as a pooled “private equity fund” that has two investors. The date of first sale is January 10, 2014 for the offering, which appears to be closed. 

Pantheon, which traces its roots to 1982 and which has since expanded from a London office to Hong Kong, San Francisco and New York, plans to invest the separate account on a pro-rata basis alongside its core funds of funds, according to a spokesperson. The money is earmarked for commitments to buyout, venture capital and growth equity funds in North America, Europe and Australia, as well as “growth markets” in Asia, Latin America and Africa, according to a press release. It will also be invested in secondary deals and co-investments.

Pantheon first landed BVK as a client in 2007 and won a similar separate account assignment from the pension fund in 2011, according to an article on the AltAssets news website. 

“Last year we decided to reduce the number of external managers and grant larger mandates to our core managers for the next investment period 2014 to 2017,” said Anselm Wagner, head of equity and alternative investments at BVK, in a prepared statement. “We selected Pantheon as one of our core managers because of their investment expertise, global reach and their long standing dedication to responsible investment.”

Altogether 185-employee Pantheon has more than $25 billion in assets under management, according to its website. It has backed more than 1,000 private equity funds. These include buyout funds managed by ABRY Partners, Doughty Hanson and New Mountain Capital, according to Dow Jones.

According to a Form D filed in November, Pantheon raised $402.4 million for its latest co-investment fund, Pantheon Global Co-Investment Opportunities Fund II LP. The fund is believed to have closed at $503.5 million.