Credit/Private Debt
The transaction is expected to complete in the first quarter of 2023.
The fund’s closure brings Pantheon’s total capital dedicated to private debt secondary investing to $2.4 billion.
The plan committed $25 million to the asset class for pacing purposes.
Plan approved four fund commitments totaling more than $360 million today.
The fund seeks to create customized financing solutions that can help resolve idiosyncratic liquidity and capital structure situations.
The foundation hired a private credit manager and made commitments to two existing private equity managers during the first quarter.
Plan made commitments to eight existing managers and one new manager last month.
Plan’s new global credit manager will handle an approximately $700 million mandate.
Plan’s decision to move all of its fixed-income assets in-house will reduce its annual fees.
The commitments include three first-time investments.
