Pantheon has filed for registration of the AMG Pantheon Infrastructure Fund (P-BUILD), an evergreen fund offering private wealth investors access to infrastructure secondaries investments. The fund will be structured as a registered interval fund, focusing on sectors including power, utilities, transport, logistics, and digital infrastructure.
P-BUILD aims to combine infrastructure investment benefits with secondaries advantages, potentially offering capital appreciation, yield, lower volatility, and portfolio diversification. The fund leverages Pantheon’s expertise in infrastructure secondaries, with the firm managing $21.4bn in infrastructure assets and recently raising $5.3bn in its largest infrastructure program.
This launch represents Pantheon’s third US private wealth vehicle, alongside the AMG Pantheon Fund (P-PEXX) with $4.5bn in assets and the AMG Pantheon Credit Solutions Fund (P-SECC).
Pantheon ha presentato richiesta di registrazione per il Fondo Infrastrutturale AMG Pantheon (P-BUILD), un fondo evergreen che offre agli investitori privati l’accesso a investimenti in infrastrutture secondarie. Il fondo sarà strutturato come un fondo intervallo registrato, focalizzandosi su settori come energia, servizi pubblici, trasporti, logistica e infrastrutture digitali.
P-BUILD mira a combinare i benefici degli investimenti in infrastrutture con i vantaggi delle secondarie, potenzialmente offrendo apprezzamento del capitale, rendimento, minore volatilità e diversificazione del portafoglio. Il fondo sfrutta l’esperienza di Pantheon nelle infrastrutture secondarie, con la società che gestisce $21,4 miliardi in attivi di infrastruttura e ha recentemente raccolto $5,3 miliardi nel suo programma infrastrutturale più grande.
Questo lancio rappresenta il terzo veicolo di ricchezza privata di Pantheon negli Stati Uniti, insieme all’AMG Pantheon Fund (P-PEXX) con $4,5 miliardi in attivi e all’AMG Pantheon Credit Solutions Fund (P-SECC).
Pantheon ha presentado una solicitud de registro para el Fondo de Infraestructura AMG Pantheon (P-BUILD), un fondo evergreen que ofrece a los inversores de patrimonio privado acceso a inversiones en infraestructuras secundarias. El fondo estará estructurado como un fondo de intervalo registrado, centrándose en sectores como energía, servicios públicos, transporte, logística e infraestructura digital.
P-BUILD tiene como objetivo combinar los beneficios de la inversión en infraestructura con las ventajas de las secundarias, lo que potencialmente ofrece apreciación de capital, rendimiento, menor volatilidad y diversificación de la cartera. El fondo aprovecha la experiencia de Pantheon en infraestructuras secundarias, con la firma gestionando $21.4 mil millones en activos de infraestructura y recientemente recaudando $5.3 mil millones en su programa de infraestructura más grande.
Este lanzamiento representa el tercer vehículo de patrimonio privado de Pantheon en los Estados Unidos, junto con el AMG Pantheon Fund (P-PEXX) con $4.5 mil millones en activos y el AMG Pantheon Credit Solutions Fund (P-SECC).
팬테온은 AMG 팬테온 인프라 펀드 (P-BUILD) 등록 신청을 하였습니다. 이는 개인 자산 투자자들에게 인프라 2차 투자에 접근할 수 있는 evergreen 펀드입니다. 이 펀드는 등록된 구간 펀드로 구조화되며, 전력, 유틸리티, 운송, 물류 및 디지털 인프라와 같은 분야에 중점을 둘 것입니다.
P-BUILD는 인프라 투자 혜택과 2차 투자 장점을 결합하여 자본 증대, 수익, 낮은 변동성 및 포트폴리오 다각화를 제공할 수 있습니다. 이 펀드는 팬테온의 인프라 2차 투자 전문성을 활용하며, 팬테온은 214억 달러의 인프라 자산을 관리하고 최근에는 최대 인프라 프로그램에서 53억 달러를 모금하였습니다.
이번 출시로 팬테온의 미국 개인 자산 차량은 세 번째가 되며, 45억 달러의 자산을 가진 AMG 팬테온 펀드 (P-PEXX) 및 AMG 팬테온 크레딧 솔루션 펀드 (P-SECC)와 함께 합니다.
Pantheon a déposé une demande d’enregistrement pour le Fonds d’Infrastructure AMG Pantheon (P-BUILD), un fonds evergreen offrant aux investisseurs en richesse privée un accès aux investissements en infrastructures secondaires. Le fonds sera structuré en tant que fonds à intervalles enregistré, se concentrant sur des secteurs tels que l’énergie, les services publics, le transport, la logistique et l’infrastructure numérique.
P-BUILD vise à combiner les avantages de l’investissement en infrastructures avec les atouts des secondaires, offrant potentiellement une appréciation du capital, un rendement, une plus faible volatilité et une diversification du portefeuille. Le fonds tire parti de l’expertise de Pantheon dans le domaine des infrastructures secondaires, la société gérant 21,4 milliards de dollars d’actifs d’infrastructure et levant récemment 5,3 milliards de dollars dans son plus grand programme d’infrastructure.
Cet lancement représente le troisième véhicule de richesse privée de Pantheon aux États-Unis, aux côtés de l’AMG Pantheon Fund (P-PEXX) avec 4,5 milliards de dollars d’actifs et de l’AMG Pantheon Credit Solutions Fund (P-SECC).
Pantheon hat die Registrierung des AMG Pantheon Infrastrukturfonds (P-BUILD) beantragt, eines Evergreen-Fonds, der privaten Vermögensinvestoren Zugang zu sekundären Infrastrukturinvestitionen bietet. Der Fonds wird als registrierter Intervallfonds strukturiert und konzentriert sich auf Sektoren wie Energie, Versorgungsunternehmen, Transport, Logistik und digitale Infrastruktur.
P-BUILD zielt darauf ab, die Vorteile von Infrastrukturinvestitionen mit den Vorteilen von Sekundärmärkten zu kombinieren, was potenziell Kapitalwachstum, Rendite, geringere Volatilität und Portfoliodiversifizierung bieten könnte. Der Fonds nutzt das Fachwissen von Pantheon im Bereich der sekundären Infrastruktur, wobei die Firma 21,4 Milliarden USD an Infrastrukturvermögen verwaltet und kürzlich 5,3 Milliarden USD in ihrem größten Infrastrukturprogramm aufgebracht hat.
Dieser Launch stellt das dritte private Vermögensfahrzeug von Pantheon in den USA dar, neben dem AMG Pantheon Fund (P-PEXX) mit 4,5 Milliarden USD an Vermögen und dem AMG Pantheon Credit Solutions Fund (P-SECC).
Positive
- Launch of new infrastructure fund targeting the growing US private wealth market
- Strong infrastructure assets under management of $21.4bn
- Recent successful fundraise of $5.3bn for infrastructure program
- Established track record with $4.5bn AUM in existing AMG Pantheon Fund
Negative
- Fund is non-diversified and involves substantial investment risks
- Potential for complete loss of investment capital
Insights
Pantheon’s expansion into infrastructure secondaries through P-BUILD represents a strategic move to capitalize on growing private wealth demand. The $21.4bn infrastructure AUM and recent
The timing is particularly opportune given the current macroeconomic environment. Infrastructure secondaries can provide defensive characteristics during market volatility, while potentially offering attractive risk-adjusted returns and yield. The shorter duration and immediate distribution potential make this vehicle especially appealing for wealth management portfolios seeking inflation protection with lower volatility.
This product launch aligns with two significant market trends: growing private wealth allocation to alternative investments and increasing demand for infrastructure exposure. The interval fund structure removes traditional private market barriers like high minimums and long lock-ups, potentially expanding Pantheon’s addressable market significantly.
With
- Pantheon brings its globally recognized, specialist approach in infrastructure secondaries to the US private wealth market
- The AMG Pantheon Infrastructure Fund (P-BUILD) will seek to invest in high-quality private infrastructure assets primarily through secondaries1
- P-BUILD leverages Pantheon’s expertise as a pioneer in structuring innovative evergreen private investment opportunities to meet the specialized needs of the private wealth market as the firm’s third US fund offering
The information in the prospectus and this statement is not complete and may be changed. Securities may not be sold in P-BUILD until the registration statement filed with the Securities and Exchange Commission is effective. The filed prospectus and this statement are not an offer to sell securities in P-BUILD and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.
Pantheon, a leading global private markets investor, today announced that it has filed for registration of the AMG Pantheon Infrastructure Fund (P-BUILD), an innovative evergreen fund offering private wealth investors access to Pantheon’s specialist approach to private infrastructure secondaries investments. P-BUILD will be offered in a registered interval fund structure and become the latest addition to the firm’s growing, global evergreen platform.
P-BUILD will look to combine the benefits of infrastructure investments, including the potential for capital appreciation, yield, lower volatility, and portfolio diversification, with the added advantages of secondaries, which can offer greater risk mitigation, shorter investment durations, and more immediate distributions compared to traditional infrastructure investments. The fund will provide diversified exposure across the spectrum of infrastructure sectors including, among others, power and utilities, transport and logistics and digital, leveraging its secondaries focus to acquire interests in existing, high-quality portfolios and assets at potentially favorable discounts. P-BUILD will benefit from Pantheon’s platform scale, as well as the depth and breadth of its team of over 30 dedicated infrastructure investment professionals to provide access to relative value opportunities within the infrastructure industry.
P-BUILD sources expertise from Pantheon’s private infrastructure secondaries strategy
Pantheon has been investing in private markets secondaries since 1988 and was one of the first fund managers globally to recognize the potential of infrastructure secondaries, raising its first fund including the strategy in 2010. Since then, the firm has raised four infrastructure funds with an increasing focus on secondaries,2 completing its largest ever infrastructure program fundraise earlier this year with commitments totaling
Infrastructure secondaries have emerged as an attractive and sought-after investment opportunity, particularly in the current macroeconomic environment characterized by market volatility, persistent inflation, elevated interest rates, and the reduction of liquidity from private investment portfolios. This segment has benefited from increased deal flow and investor interest, driven by the demand for infrastructure, which has historically demonstrated resilience and lower volatility during periods of disruption. The unique nature of infrastructure secondaries allows investors to access a traditionally long-dated asset class through shorter-duration entry points, offering the potential for strong, risk-adjusted returns and an attractive income stream.
Andrea Echberg, Pantheon Partner, and Head of Infrastructure, said, “P-BUILD is an exciting opportunity for Pantheon to bring our institutional infrastructure secondaries investment expertise to bear in an innovative evergreen structure for the US private wealth market. We are in the midst of a particularly robust market environment for infrastructure secondaries, and Pantheon is well positioned to build portfolios of high-quality assets to deliver strong risk-adjusted returns for our investors.”
Pantheon’s private wealth structuring edge
P-BUILD will be the third vehicle launched within Pantheon’s US Private Wealth division and will sit alongside the AMG Pantheon Fund (P-PEXX), one of the largest and most established registered private equity funds in the US with approximately
Pantheon’s US Private Wealth offerings have been developed and distributed in collaboration with its long-term strategic partner, AMG (NYSE: AMG). Pantheon and AMG partnered in structuring and fund formation and AMG will support P-BUILD with complementary distribution as well as operational and administrative services.
Michael Hutten, Pantheon Partner, and Head of US Private Wealth, said, “Private wealth investors are increasingly expanding their real asset exposure by including infrastructure investments. P-BUILD will offer investors potential exposure to uncorrelated returns with lower volatility and a more predictable yield opportunity through a differentiated investment strategy. P-BUILD’s approach to investing in infrastructure secondaries will offer a unique access point into the rapidly growing infrastructure market with a shorter duration than that of traditional private infrastructure strategies.”
Rachel Jacobs, Head of Client Solutions at AMG, added, “In constructing portfolios and meeting investment objectives, US-based advisors and their clients seek the same components and strategies as do institutional investors, but require vehicles that address the complexities of the US wealth market. AMG is proud to continue to collaborate with Pantheon in creating institutional-calibre private markets solutions in highly attractive asset classes. P-BUILD is another example of AMG’s and Pantheon’s shared commitment to provide the US wealth market with access to differentiated exposures through our expanding platform of unique evergreen private markets solutions.”
***Ends
Notes to Editors
About Pantheon
Pantheon* has been at the forefront of private markets investing for more than 40 years, earning a reputation for providing innovative solutions covering the full lifecycle of investments, from primary fund commitments to co-investments and secondary purchases, across private equity, infrastructure, real estate, and private credit.
We have partnered with more than 650 clients, including institutional investors of all sizes as well as a growing number of private wealth advisers and investors, with approximately
Leveraging our specialized experience and global team of professionals across
* Pantheon refers to the subsidiaries and subsidiary undertakings of Pantheon Ventures Inc. and AMG Plymouth UK Holdings Limited and includes operating entities principally based in the US (
The AMG Pantheon Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.
This press release is not an offer of securities for sale. Securities may not be offered or sold in
The Fund is a non-diversified, closed-end investment company designed for long-term investors and not as a trading vehicle. An investment in P-BUILD is speculative and involves substantial risks. It is possible that investors may lose some or all of their investment. Statements made reflect the views and opinions of AMG and Pantheon as of the date hereof and not as of any future date. All expressions of opinion are subject to change without notice and are not intended to be a forecast of future events or results. Past performance is not indicative of future results. Future results are not guaranteed, and loss of principal may occur.
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1 A portion of the fund allocation will include co-investments. See prospectus for additional information. |
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2 Funds included a range of approaches, including co-investments. |
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3 As of June 30, 2024 |
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4 As of October 31, 2024. |
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5 As of October 31, 2024, exchange rate as of October 1, 2024. |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209080589/en/
For further information, please contact:
Pantheon
Mariella Reason, Pantheon Communications
Tel: +44 20 3473 3975 | Email: mariella.reason@pantheon.com
Source: Pantheon
FAQ
What is the new AMG Pantheon Infrastructure Fund (P-BUILD)?
P-BUILD is an evergreen fund offering private wealth investors access to infrastructure secondaries investments, structured as a registered interval fund focusing on sectors like power, utilities, transport, logistics, and digital infrastructure.
How much does Pantheon manage in infrastructure assets?
Pantheon manages $21.4bn in discretionary infrastructure assets as of June 30, 2024.
What are the main investment sectors for P-BUILD?
P-BUILD will invest across power and utilities, transport and logistics, and digital infrastructure sectors.
What are the potential benefits of investing in P-BUILD?
P-BUILD aims to offer capital appreciation, yield, lower volatility, portfolio diversification, shorter investment durations, and more immediate distributions compared to traditional infrastructure investments.