The private-markets investor Pantheon has announced the closing of the 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 said 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, a Wednesday release said.
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 said.
Andrea Echberg, a partner and global head of infrastructure at Pantheon, said in the release that Pantheon has a current pipeline of more than $12 billion in infrastructure secondaries.