Key Takeaways
- • Pantheon, a London-based specialist private markets investor, was awarded a new private equity mandate by Bayerische Versorgungkammer (BVK), Germany's largest pension fund, according to a Business Wire release dated July 31, 2024.
- • The mandate is BVK's ninth commitment to Pantheon programs since the relationship began in 2007, spanning European, global and US private equity across commingled funds and separate accounts.
- • The latest program is the third of its kind, focused on funding small and mid-sized private companies in the US through primary commitments and complementary co-investments.
- • BVK manages €111.9bn ($119.7bn) in pension assets for 12 occupational and municipal schemes in Bavaria, with roughly one in five Bavarian households receiving benefits.
- • Pantheon reports more than $65bn in discretionary assets under management and commits more than $4bn annually across its private equity strategies.
Summary
Pantheon has been awarded a new private equity mandate by Bayerische Versorgungkammer (BVK), Germany's largest pension fund, according to a Business Wire release from London. The award extends a relationship dating to 2007 that now includes investments across nine commingled funds and separate accounts covering European, global and US private equity.
The new mandate is the third of its kind focused on supporting the ongoing growth of small and mid-sized private companies in the United States. It will be deployed through primary commitments and complementary co-investments. Pantheon states it has a 40-year track record in private equity and has been an active co-investor for 27 years, with a conviction focus on the mid-market, where it believes there is enhanced potential for operational value creation.
BVK manages pension assets on behalf of 12 occupational and municipal pension schemes in Bavaria, with combined assets under management of €111.9bn ($119.7bn). The release notes that around one in five Bavarian households receives benefits from BVK.
Ralph Guenther, Partner and Head of Continental Europe Investor Relations at Pantheon, said the mandate reflects a long-term partnership approach and the firm's specialized expertise in the private equity mid-market. Hendrik Kott, Head of Equity and Alternative Investments at BVK, described Pantheon as one of the fund's key private equity partners, providing continuous access to attractive opportunities in less visible parts of the market where alignment of interest between investors and smaller businesses is strongest. Jeff Miller, Co-Head of Investment and Global Head of Private Equity at Pantheon, said the firm aims to deliver strong risk-adjusted returns through backing US company owners and entrepreneurs.
Pantheon describes itself as serving more than 650 clients, including institutional investors and a growing number of private wealth advisers, with approximately $65bn in discretionary assets as of December 31, 2023. The release is a company announcement and not an offer of securities.
The new mandate is the third of its kind focused on supporting the ongoing growth of small and mid-sized private companies in the United States. It will be deployed through primary commitments and complementary co-investments. Pantheon states it has a 40-year track record in private equity and has been an active co-investor for 27 years, with a conviction focus on the mid-market, where it believes there is enhanced potential for operational value creation.
BVK manages pension assets on behalf of 12 occupational and municipal pension schemes in Bavaria, with combined assets under management of €111.9bn ($119.7bn). The release notes that around one in five Bavarian households receives benefits from BVK.
Ralph Guenther, Partner and Head of Continental Europe Investor Relations at Pantheon, said the mandate reflects a long-term partnership approach and the firm's specialized expertise in the private equity mid-market. Hendrik Kott, Head of Equity and Alternative Investments at BVK, described Pantheon as one of the fund's key private equity partners, providing continuous access to attractive opportunities in less visible parts of the market where alignment of interest between investors and smaller businesses is strongest. Jeff Miller, Co-Head of Investment and Global Head of Private Equity at Pantheon, said the firm aims to deliver strong risk-adjusted returns through backing US company owners and entrepreneurs.
Pantheon describes itself as serving more than 650 clients, including institutional investors and a growing number of private wealth advisers, with approximately $65bn in discretionary assets as of December 31, 2023. The release is a company announcement and not an offer of securities.
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