Pantheon Selects Brand-New Chiefs of Secondary’s Group

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This article was originally posted here.

London-based financial investment company Pantheon Group has revealed modifications to the management of its personal equity secondary’s group, FN’s sibling publication Private Equity News reports.

Elly Livingstone, who has led the company’s secondary’s financial investment program since 2004, will transfer to a brand-new function concentrated on fundraising and financial investment, the company stated.

Livingston will be changed by 2 partners, Matt Jones and Rudy Scarpa, who are based in the company’s London and New York workplaces respectively. Jones and Scarpa are members of Pantheon’s secondary’s financial investment committee.

Jones, who is based in London, signed up with the company from the UK Treasury, where he worked as an economic expert. New York-based Scarpa was formerly a partner at competing secondary’s financier Coller Capital.

” Designating joint leaders based in 2 of our crucial local markets highly verifies us
dedication to and self-confidence in the development and continued the long-lasting success of our secondary’s business, while acknowledging its worldwide profile,” stated Chris Meads, Pantheon’s head of financial investment.

Livingstone signed up with the company in 2001 and has almost twenty years’ experience in the personal equity market. Before signing up with Pantheon, he worked as a financial investment supervisor at emerging markets focused firm Actis Capital.

The shake-up comes in the middle of a boom in the market for pre-owned stakes in personal equity funds.

A strong fundraising environment, combined with altering understandings of the marketplace, has owned offer circulation to near record levels, according to a report released today by Credit Suisse.

“LPs offering their personal equity interests were when viewed as pariahs, yet now the secondary market is commonly welcomed by LPs,” the report stated, before forecasting that secondary offer volumes might strike record highs in 2017.

The most significant secondary’s offers of the year up until now consist of Ardian’s $2.5 bn offer to purchase a stake in a portfolio of personal equity interests held by Mubadala Capital, an arm of Abu Dhabi’s state fund Mabadala.

Pantheon had $36.6 bn of possessions under management since March 31 and presently uses 219 people throughout workplaces in London, San Francisco, New York and Hong Kong.

It is investing its 5th secondary’s fund, which had raised at least $1.7 bn since January 2016, WSJ Pro formerly reported. The fund has a $2.5 bn target, according to Preqin.