Pantheon Wins German Pension Fund Mandate

Fund-of-funds manager Pantheon has secured a global private equity mandate from Germany’s largest pension fund.

Bayerische Versorgungskammer has appointed Pantheon to manage more thanr €100 million ($136 million) in private equity fund commitments in the United States, Europe and Asia, encompassing venture, growth capital and buyout funds.

BVK currently has €55 billion in assets under management and 1,100 employees. The pension fund has been an investor in private equity since 2007 and has already reached its 2 percent target allocation. The portfolio is globally diversified across various sectors within private equity. BVK covers around 1.8 million insured persons in total with contributions of €3.8 billion and €2.5 billion pension payments annually.

BVK is already an investor in Pantheon funds of funds, while also working with other private equity fund managers. Having worked with the alternatives team at BVK for the past four years, Pantheon has established a strong relationship and shared investment values. Senior professionals at Pantheon are investing in this program alongside BVK, as they do in all Pantheon fund-of-funds programs. Spokespeople for BVK and Pantheon declined to comment any further on the investment program.

Pantheon is a global private equity fund-of-funds manager investing on behalf of more than 300 institutional investors. The business has been running for more than 30 years and provides clients with the opportunity to invest in private equity through regional primary funds of funds in Asia, Europe and the United States, global secondary funds, global infrastructure fund-of-funds and customized investment programs.

Pantheon has more than $24 billion assets under management and some 150 employees, including 62 investment professionals, in offices in London, San Francisco, New York and Hong Kong.

Boston-based asset management company Affiliated Managers Group acquired Pantheon last year from pension fund adviser Russell Investments, a subsidiary of Northwestern Mutual Life, for approximately $775 million.