London and New York, May 7, 2026 – Pantheon, a leading global private markets investor with $85 billion in assets under management, today announced the successful closing of its first private equity Collateralized Fund Obligation (“CFO”), at $1 billion, exceeding its initial target of $750 million. The transaction marks an important milestone in Pantheon’s long track record of innovation across private markets and reflects sustained institutional demand for structured access to private equity.

The CFO has attracted significant interest from investors, including insurance companies, seeking capital-efficient, rated exposure to private markets. The CFO provides professional investors with access to Pantheon’s flagship private equity secondaries’ strategy, flagship private equity co-investment strategy, and a seeded portfolio of private equity assets, in a rated structure. The CFO is backed by high-quality, predominantly middle-market private equity secondaries investments alongside leading sponsors, diversified by sector, geography and vintage, and acquired at attractive entry points.

Pantheon has been investing in private markets secondaries since 1988 and today manages $13.5 billion in private equity secondaries. The launch of Pantheon’s first CFO reflects growing demand for the firm’s global expertise across private markets at tailored access points for unique investor needs.

Pantheon has partnered with Evercore and Simpson Thacher & Bartlett LLP in bringing this transaction to a successful close. Evercore served as structuring advisor and placement agent in the transaction. Simpson Thacher & Bartlett LLP served as issuer counsel.

Jeffrey Miller, Chief Investment Officer and Global Head of Private Equity at Pantheon, said: “We have been building and managing private equity secondaries portfolios for nearly four decades, and the quality of that track record is what makes a transaction like this possible. This CFO draws on our long-standing leadership in private equity secondaries and our disciplined portfolio construction capabilities with the same rigor we apply across our platform. The oversubscription reflects both the strength of the underlying assets and the growing sophistication of demand for private markets exposure.”

Florence Dard, Chief Client Officer at Pantheon, added: “This CFO is a reflection of our continued commitment to innovation and developing structures that meet our clients’ evolving needs. It allows us to offer institutional investors — particularly those with specific capital treatment requirements — a highly structured route into the same caliber of portfolio we construct for our largest clients. We believe it offers professional investors attractive, diversified exposure to private equity in a format that reflects how institutional demand for private markets has matured.”