Adam Le
The €255bn insurance arm of French financial giant BNP Paribas Group had brought a portfolio to market earlier this year.
The vehicle, which will commit to infra secondaries as well as direct infra deals, will target investors globally.
Three infra managers were snapped up as Pantheon has raised the market's biggest ever secondaries fund focusing on the asset class.
The Melbourne office brings the firm's total global presence to 11 and is its fifth in the APAC region.
Pantheon Global Infrastructure Fund IV launched in 2021 with a $3bn target and has already committed $1.3bn to 13 investments.
The firm’s $1bn haul for its first dedicated commingled infra secondaries vehicle last week couldn't come at a more opportune time.
A confluence of dynamics is driving secondaries activity in the asset class – providing dealflow and attracting more buyside interest.
Secondaries Infrastructure Solutions III will target an 11-14% net internal rate of return, according to documents prepared for a US public pension.
Pantheon Global Infrastructure Fund IV's target, capital raised so far and deal log were disclosed in a presentation to a US pension this week.
Stafford Infrastructure Secondaries Fund V will seek €1.3bn and comes five months after the firm closed its predecessor vehicle.