Pathway discloses $700 mln for Fund XXV

Firm: Pathway Capital Management

Fund: Pathway Private Equity Fund XXV LP

Offering amount: $700 million

Amount raised: $700 million

The fund is described as a pooled investment fund, with a box checked off for “other investment fund.” Officers of the fund include James Reinhardt, Douglas Le Bon and Karen Jakobi.

Jakobi is listed as a senior managing director and chief investment officer of Irvine, California-based Pathway Capital. Le Bon and Reinhardt are both senior managing directors, according to the firm’s website.

The most recent predecessor fund appears to be Pathway Private Equity Fund XXIII, which raised $754.5 million in late 2008.  There was no filing for Pathway Private Equity Fund XXIV.

Starting out as a private equity consultant, Pathway Capital Management has been raising funds for many years after it was formed in 1991.

Pathway Capital Management describes itself as one of the most experienced and largest private equity fund-of-funds managers in the world, with more than $25 billion of assets under management, including more than $13 billion from its 38 funds of funds, according to its website.

Pathway said it has developed more than 70 private equity portfolios and pledged more than $55 billion to more than 350 private equity funds on behalf of large corporate and public pension plans, government entities and financial institutions around the globe.

The firm also has been out raising Pathway Private Equity Fund Investors 7. A filing with regulators showed the fund had raised $172 million toward a $300 million target as of February 2013.

LPs for the firm include Alaska Permanent Fund Corp, Caterpillar Inc, Marin County Employees Retirement Association, Oregon Public Employees Retirement System and Washington State Investment Board.

A phone call by Buyouts to Pathway Capital management was not returned.