Pantheon, a specialist global private markets investor, has held the final close of its latest private credit secondary offering, Pantheon Credit Opportunities Fund II program, having secured $590 million in commitments from investors, exceeding the initial target size.
Pantheon, a specialist global private markets investor, has held the final close of its latest private credit secondary offering, Pantheon Credit Opportunities Fund II program (PCO II), having secured $590 million in commitments from investors, exceeding the initial target size.
Pantheon’s private credit strategy launched in 2018 and, following this closing, has now raised approximately $3 billion in capital dedicated to private credit secondaries, positioning the firm as one of the largest and most experienced investors in this rapidly growing segment of private credit. PCO II follows the above-target close of the senior credit-focused Pantheon Senior Debt II USD program (PSD II USD) in 2022.
Pantheon’s private credit secondaries programs invest across the full spectrum of private credit strategies and asset types, incorporating both LP- and GP-initiated liquidity solutions on behalf of a growing base of institutional and private wealth clients in Europe, the US and Asia. Our client offerings include a range of dedicated funds and bespoke separate accounts, targeting opportunities across both North America and Europe. Pantheon’s private credit strategy manages or advises on a total of approximately $6.4 bn of assets in credit secondaries, co-investments and primary funds, with 65 GP relationships globally.
PCO II seeks secondary investments in high-quality credit portfolios, primarily in the US and with a focus on downside protection, targeting a mix of both senior strategies and assets, as well as opportunistic exposures including special situations, growth lending, specialty- and asset-backed finance. It already has a highly diversified portfolio comprised of attractively priced, diversified private credit, with exposure to approximately 1,500 companies and more than 30 high-quality private credit managers.
