The Irvine, Calif.-based firm, which has more than $23 billion in assets under management, held a final close for
The 2008 fund is the fifth annual co-mingled fund raised by Pathway Capital. Limited partners this time around included the pension funds of publicly-listed companies Caterpillar Inc. and PPL Services Inc. as well as the
The shop plans to open its next co-mingled fund this month, the source said.
Pathway Capital was founded in 1991 by Douglas K. Le Bon, James J. Reinhardt, Karen Jakobi and Albert Clerc. The firm currently has a total of 32 investment professionals, including 15 senior professionals who retain complete ownership.
According to its Web site, Pathway Capital manages 34 funds with an average size of $300 million each. In addition to its co-mingled funds, the firm also operates as a captive fund-of-funds manager for institutional investors, including the
Aside from its California headquarters, Pathway Capital has offices in Rhode Island and London, as well as a strategic alliance with Tokio Marine Asset Management Co. Ltd. that gives it a presence in Tokyo.