Pantheon Exceeds Target for Inaugural Private Equity CFO at $1 Billion

LONDON & NEW YORK--(BUSINESS WIRE)--Pantheon, a leading global private markets investor with $85 billion in assets under management, today announced the successful closing of its first private equity Collateralized Fund Obligation (“CFO”), at $1 billion, exceeding its initial target of $750 million. The transaction marks an important milestone in Pantheon’s long track record of innovation across private markets and reflects sustained institutional demand for structured access to private equity.

The CFO has attracted significant interest from investors, including insurance companies, seeking capital-efficient, rated exposure to private markets. The CFO provides professional investors with access to Pantheon’s flagship private equity secondaries’ strategy, flagship private equity co-investment strategy, and a seeded portfolio of private equity assets, in a rated structure. The CFO is backed by high-quality, predominantly middle-market private equity secondaries investments alongside leading sponsors, diversified by sector, geography and vintage, and acquired at attractive entry points.

Pantheon has been investing in private markets secondaries since 1988 and today manages $13.5 billion in private equity secondaries. The launch of Pantheon’s first CFO reflects growing demand for the firm’s global expertise across private markets at tailored access points for unique investor needs.

Pantheon has partnered with Evercore and Simpson Thacher & Bartlett LLP in bringing this transaction to a successful close. Evercore served as structuring advisor and placement agent in the transaction. Simpson Thacher & Bartlett LLP served as issuer counsel.

Jeffrey Miller, Chief Investment Officer and Global Head of Private Equity at Pantheon, said: “We have been building and managing private equity secondaries portfolios for nearly four decades, and the quality of that track record is what makes a transaction like this possible. This CFO draws on our long-standing leadership in private equity secondaries and our disciplined portfolio construction capabilities with the same rigor we apply across our platform. The oversubscription reflects both the strength of the underlying assets and the growing sophistication of demand for private markets exposure.”

Florence Dard, Chief Client Officer at Pantheon, added: “This CFO is a reflection of our continued commitment to innovation and developing structures that meet our clients’ evolving needs. It allows us to offer institutional investors — particularly those with specific capital treatment requirements — a highly structured route into the same caliber of portfolio we construct for our largest clients. We believe it offers professional investors attractive, diversified exposure to private equity in a format that reflects how institutional demand for private markets has matured.”

***Ends

About Pantheon

Pantheon* has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, from primary fund commitments to co-investments and secondary purchases, across private equity, private credit, and real assets. For more information, please visit www.pantheon.com.

We have partnered globally with institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately $85bn in discretionary assets under management (as of September 30, 2025).

Leveraging our specialized experience and global team of professionals across Europe, the Americas, and Asia, we invest with purpose and lead with expertise to build secure financial futures.

* Pantheon refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo, Dublin and Singapore. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the US Securities and Exchange Commission (“SEC”); Pantheon Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB). Pantheon Ventures (Ireland) DAC is regulated by the Central Bank of Ireland (“CBI”) and is an appointed representative of Pantheon Ventures (UK) LLP in respect of activities carried out in the United Kingdom. Pantheon Ventures (Singapore) Pte. Ltd holds a capital markets service license from the Monetary Authority of Singapore (“MAS”) to conduct fund management with accredited and institutional investors.

This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2026