Bayerische Versorgungskammer, Munich, hired Pantheon to run a private equity separate account, confirmed a spokeswoman for the pension fund group.
The allocation will be invested in primary buyout, growth equity and venture capital funds in mature markets in North America, Europe and Australia and in growth markets in Asia, Latin America and Africa, according to a Pantheon news release. It will also be invested in global secondary and co-investment opportunities.
The spokeswoman at the €58 billion ($78.9 billion) group, which covers public-sector employees and is the largest public pension fund in Germany, declined to reveal the size of the allocation. The new allocation extends the relationship between Pantheon and BVK's alternatives team, dating back to 2007.
“Last year, we decided to reduce the number of external managers and grant larger mandates to our core managers for the next investment period 2014 to 2017,” said Anselm Wagner, head of equity and alternative investments at BVK, in the release. “We selected Pantheon as one of our core managers because of their investment expertise, global reach and their long-standing dedication to responsible investment.”
