Pantheon announced today the closing of a record $5.2 billion into Pantheon Senior Debt III (PSD III) and related vehicles, consisting of closed-end co-mingled funds, evergreen and rated insurance vehicles, and separately managed accounts.
PSD III’s success, which was oversubscribed and surpassed preceding fundraises, reflects the strength of Pantheon’s private credit investment expertise and the firm’s leading position as an innovative solutions provider across the institutional, private wealth, and insurance channels.
PSD III specifically targets portfolios of senior secured, floating rate, primarily sponsor-backed investments across LP interests and GP solutions opportunities. And the firm’s disciplined investment approach emphasizes a credit-first mindset; performing, diversified, and yield-oriented portfolios; and partnership with top-tier private credit firms globally.
PSD III also complements Pantheon’s current secondary strategies that target the full range of private credit across an array of sub-strategies, as well as those that are focused on specific geographic regions.
KEY QUOTES:
“The continued growth and range of opportunities in private credit secondary solutions are among the most robust we have seen. The closing of this fundraise, which creates one of the largest dedicated pools of credit secondary capital in the industry to date, furthers our market leadership and partnership with over 95 GPs and counting around the world. Pantheon has sourced, led, and completed a number of the industry’s largest and most complex transactions, including several muti-billion dollar continuation funds over the last few years.”
- Rakesh (Rick) Jain, Portfolio Manager and Global Head of Private Credit in New York
“We are grateful for the support we received from new and existing investors, and are particularly pleased with our accelerating presence in the insurance channel. Our credit secondaries strategy is attractive to insurance clients for its capital efficiency and, in our view, consistent return profile. We will continue working to deliver strong risk-adjusted returns to our investors through the consistent execution of our focused, selective investment approach.”
- Toni Vainio, Portfolio Manager and Partner at Pantheon in London
