LONDON–(BUSINESS WIRE)–Pantheon, a leading global private markets investor, is delighted to announce the addition of Alex Denny, formerly head of Fidelity International’s investment trust business, as its new Managing Director, European Private Wealth, and Nicole Parker, formerly of Goldman Sachs Asset Management, as Managing Director, US Private Wealth. Pantheon has a longstanding and ongoing commitment to opening access to private markets to non-institutional investors, and the new hires reflect increasing investor demand for the offerings across its $6 billion evergreen platform1 that currently includes two UK-listed investment trusts, as well as the SEC-registered AMG Pantheon Fund.
“Pantheon is an industry leader in bringing our broad private markets expertise to a wider range of institutional and non-institutional investors around the world, and we are pleased to welcome Alex and Nicole as we look to further expand our reach and the range of evergreen and semi-liquid products we offer,” said Paul Ward, Pantheon’s Managing Partner.
Alex joins following 14 years at Fidelity International, including a decade spent growing its investment trust business, most recently as Head of Investment Trusts. Prior to joining the investment trusts team, Alex was focused on customer service and operations, experience that has informed his customer-centric approach to client service. In his new role, based in London, Alex will leverage his deep industry experience to enhance the development and success of Pantheon’s existing investment trust businesses, as well as to drive product development and manage relationships with key distribution partners across the UK and Europe. Alex also serves a non-executive director on the board of the Association of Investment Committees, the UK trade association for investment trusts.
With over 20 years of experience in the investment industry, Nicole has been at the forefront of the evolution in expanding access to private market investments across the private wealth space. She was previously at Goldman Sachs, where she worked in the Alternative Investment Solutions Group within the Asset Management Division focusing on the advisory marketplace. Nicole brings long-term leadership and broad industry relationships to Pantheon’s US Private Wealth business, which has seen accelerating growth and earlier this year announced that the AMG Pantheon Fund had become just the third registered private equity fund to pass the $1bn in assets under management mark. She is based in San Francisco.
“I am excited to join Pantheon as the firm continues to expand the range of private market investments available to investors across the UK and Europe,” said Alex. “I look forward to building on Pantheon’s successful and extensive track record as we drive the growth of our existing private wealth offerings and develop new products and relationships.”
Nicole added: “Private wealth advisors recognize Pantheon for the depth of its private market expertise and excellent relationships. I welcome the opportunity to work across the private wealth community to expand access to the private markets through the AMG Pantheon Fund, as well the firm’s traditional limited partnership investments and customized solutions.”
Pantheon was an early mover in democratizing access to private markets and has continued to innovate in expanding its private wealth offerings and capabilities. The firm launched its first London Stock Exchange-listed global private equity investment trust, Pantheon International Plc (“PIP”), in 1987. PIP has delivered consistent outperformance since inception, with its latest annual results for the period ending 31 May 2022 reflecting average annual net asset value (“NAV”) growth over the past 35 years of 12.4% (vs 8.4% for the MSCI All Country World (“MSCI World”) over the same period) and a current portfolio NAV of £2.4bn2.
Last year, Pantheon added to its investment trust stable with the launch of Pantheon Infrastructure Plc (PINT), which successfully completed a heavily oversubscribed listing on the London Stock Exchange in November 2021, achieving its hard cap of £400m. It has since substantially invested this capital, along with additional funds of £80.8m raised through exercising subscription rights issued as part of the IPO, to create a diverse portfolio of global infrastructure assets.
Finally, Pantheon’s SEC-registered private equity fund, the AMG Pantheon Fund, was launched in 2015 and has seen accelerating growth in recent months on the back of increased demand from private wealth investors. As of August 31, 2022, the fund had $1.31bn in assets and had delivered three-year annualized performance of 16.41% (vs 8.77% for the MSCI World index) and since-inception annualized performance of 12.73% (vs 8.52% for the MSCI World index)3.
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1 As of March 31, 2022. Evergreen vehicles” refer to assets attributed to Pantheon International Plc, Pantheon Infrastructure Plc, the AMG Pantheon Fund LLC, and Pantheon Select Private Equity Fund (DC vehicle).
2 To read PIP’s full results, visit: https://www.piplc.com/investor-relations/results-centre/. Past performance is no guarantee of future results. Future results are not guaranteed and loss of principal can occur.
3 AMG Pantheon Fund performance Class 1 Performance 8/31/2022*: MTD: 1.31%, QTD: 2.08%, YTD: 6.17%, 1YR: 9.63%, 3YR: 16.41%, 5YR: 13.66%, Since Inception: 12.73%, NAV: $20.12. MSCI World Performance 8/31/2022: MTD: -4.18%, QTD: 3.43%, YTD: -17.78%, 1YR: -15.08, 3YR: -8.77%, 5YR: 7.85%, Since Inception: 8.52%. Returns are unaudited and presented net of distribution fees and operating expenses, and reflect an operating expense limitation of 1.45%. The expense limitation shall continue until such time that the Adviser ceases to be the investment adviser of the Fund or upon mutual agreement between the Adviser and the Fund’s Board of Directors. For additional details, see the “Expense Limitation and Reimbursement Agreement” section of the prospectus. Past performance is no guarantee of future results. Future results are not guaranteed and loss of principal can occur.
The investment return and principal value of an investment will fluctuate and an investor’s Units, when repurchased, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For data as of the most recent month-end and for data for other share classes, please call 800.835.3879 or email AMGPantheonFundIR@pantheon.com. The Fund’s performance is net of certain fees and expenses. See the Fund’s prospectus for a comprehensive explanation of the Fund’s fees and expenses.
*Fund performance data reflect total returns. Returns are unaudited and presented net of distribution fees and operating expenses, and reflect an operating expense limitation of 1.45%. The expense limitation shall continue until such time that the Adviser ceases to be the investment adviser of the Fund or upon mutual agreement between the Adviser and the Fund’s Board of Directors. For additional details, see the “Expense Limitation and Reimbursement Agreement” section of the prospectus.
**Returns greater than one year are annualized. Class 1 was initially made available to the public on October 27, 2015. Performance shown herein represents Class 1 units that were initially made available to the public on October 27, 2015.
Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800.835.3879 or visit www.pantheon.com/our-strategies/amg-pantheon-fund/ for a prospectus. Read it carefully before investing or sending money. The Fund should be considered a speculative investment involving substantial risk. There is no guarantee that the Fund will be successful, produce positive returns, or achieve its investment objective. The Fund is appropriate for investors who can tolerate a high degree of risk, do not require liquid investment and are able to sustain a complete loss of their investment. AMG Distributors, Inc., a member of FINRA/SIPC, is the distributor for the Fund. AMG Distributors, Inc. is a wholly owned subsidiary of AMG Funds LLC and Pantheon Ventures (US) LP is majority owned by Affiliated Managers Group, Inc. (AMG). Pantheon Securities, LLC, a member of FINRA/SIPC, serves as the sub-distributor for the Fund. DISCLOSURES This document is not an offer to sell securities issued by AMG Pantheon Fund, LLC (the “Fund”). Investors should consider the Fund’s investment objective, risks, charges and expenses carefully before investing. All investors in the Fund must be “Accredited Investors,” as defined in Regulation D under the Securities Act of 1933. The Fund is a non-diversified, closed-end investment company designed for long-term investors and not as a trading vehicle. The Fund has limited operating history upon which investors can evaluate potential performance. The Fund differs from open-end investment companies in that investors do not have the right to redeem their units on a daily basis. Instead, repurchases of units are subject to the approval of the Fund’s Board of Directors. The Fund’s units represent illiquid securities of an unlisted closed-end fund, are not listed on any securities exchange or traded in any other market, and are subject to substantial limitations on transferability. LIQUIDITY IN ANY GIVEN QUARTER IS NOT GUARANTEED. YOU SHOULD NOT INVEST IN THE FUND IF YOU NEED A LIQUID INVESTMENT.
Investment products are not FDIC insured, are not bank guaranteed and may lose value.
AMG Distributors, Inc. is a wholly owned subsidiary of AMG Funds LLC and Pantheon Ventures (US) LP is majority owned by Affiliated Managers Group, Inc. (AMG).
AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC.
Notes to Editors
For further information, please contact:
Ashley Wassall, Head of Client Communications
Tel: +44 20 3356 1763 | C: +44 7776 778 620 | Email: ashley.wassall@pantheon.com
About Pantheon
Pantheon Group* (“Pantheon”) is a leading global private markets firm currently investing on behalf of more than 900 investors, including public and private pension plans, insurance companies, endowments and foundations. Pantheon has an established reputation across private market asset classes, covering all stages and geographies, and provides investment solutions that include flagship fund offerings, as well as integrated programs and customized solutions.
As of March 31, 2022 Pantheon had $87.8 billion assets under management and advice and the firm currently has more than 400 employees located across its offices in London, San Francisco, New York, Chicago, Hong Kong, Seoul**, Bogotá**, Tokyo, Dublin and Berlin. Its global workforce includes more than 120 investment professionals.
Pantheon is majority-owned by Affiliated Managers Group Inc. (“AMG”), alongside senior members of the Pantheon team. AMG is a NYSE-listed global asset management company with equity investments in leading boutique investment management firms. The ownership structure, with Pantheon management owning a meaningful share of the equity in the business, provides a framework for long-term succession and enables Pantheon management to continue to direct the firm’s day-to-day operations.
* Pantheon Group 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 (San Francisco and New York), UK (London), Hong Kong, Guernsey, Tokyo and Dublin. Pantheon Ventures Inc. and Pantheon Ventures (US) LP are registered as investment advisors with the U.S. Securities and Exchange Commission (“SEC”); Pantheon Securities, LLC is a broker dealer registered with the SEC and is a member of the Financial Industry Regulatory Authority (“FINRA”). Pantheon Ventures (UK) LLP is authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Pantheon Ventures (Guernsey) Ltd and a number of other Pantheon entities incorporated in Guernsey are regulated by the Guernsey Financial Services Commission. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator with the Kanto Local Finance Bureau in Japan (KLFB).
** Please note that the Bogotá office is a representative office of Pantheon Ventures (US) LP (“PV US”), and that a Korean subsidiary of PV US has opened the office in Seoul.
This press release is not an offer of securities for sale. Securities may not be offered or sold in the United States absent registration or an exemption from registration. © 2022
