London-based private equity firm Pantheon has reportedly won the auction for $500m worth of buyout fund stakes being sold by the Teachers’ Retirement System of the State of Illinois.
The stakes are mostly in large US recapitalisation funds including vehicles managed by TPG Capital, Warburg Pincus and Elevation Partners, said Bloomberg, citing two people with knowledge of the matter.
The $500m value includes unfunded commitments, according to the sources.
In November AltAssets reported that Pantheon had raised more than $400m for its Global Co-Investment Opportunities Fund II.
A US regulatory filing showed that another private equity fund managed by Pantheon, USA Small Funds Program IX, had raised $52.8m from one investor.
In March this year Pantheon received a “substantial” allocation of new capital for a private equity programme it manages for the Illinois Municipal Retirement Fund.
Copyright © 2014 AltAssets