Adam Le
Opening up alternative assets to non-institutional investors, from HNWIs to 401(k) account holders, represents up to $80trn. It's an alluring pot of capital for an industry with flatlining annual fundraising figures in some asset classes. And yet, multiple headwinds exist, making the journey towards increasing democratisation far from straightforward.
The firm's infrastructure partnership investments unit has generated $1.5bn for investors in the first half of this year.
Flush with cash in an increasingly competitive market, secondaries buyers are searching for assets from non-conventional sellers, such as strategics.
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.