Private markets investor Pantheon has announced the closing of secondaries-focused infrastructure fund Pantheon Global Infrastructure Fund IV and associated vehicles at $5.3 billion, marking the firm's largest-ever fundraising.
A spokesperson for Pantheon said they had a target for the core fund of $3 billion, which was met and exceeded. The spokesperson noted that the $5.3 billion figure included parallel vehicles within the program that invest exclusively alongside the core fund.
Commitments came from a "wide range of blue-chip institutional and private wealth investors" across Asia, North America, Europe and the Middle East, said a Jan. 17 release.
Investors in the fund include the $23.3 billion State Universities Retirement System of Illinois; the $2 billion Tacoma (Wash.) Employees' Retirement System; and Fubon Life Insurance of Taiwan.
The fund is 75% deployed, with more than 90% of capital committed to a range of both limited partner portfolio and general partner-initiated secondaries, the release noted.
Andrea Echberg, partner and global head of infrastructure at Pantheon, stated in the release that Pantheon has a current pipeline of more than $12 billion in infrastructure secondaries.