Pantheon, a leading global private markets investor with approximately $84bn* in AUM, today announced the final close of the Pantheon Global Secondaries Fund VIII and associated vehicles (PGSF VIII), its latest flagship global private equity secondaries offering, with commitments totaling $6bn.

The closing follows record deployment of approximately $3.35bn across 17 secondary transactions in 2025, reflecting Pantheon’s differentiated access to proprietary deal flow and continued investor demand for secondaries as a portfolio management tool.

PGSF VIII pursues a differentiated strategy, delivering investors exposure to hard-to-access GPs through a portfolio focused on the mid-market globally. The fund takes a blended approach across LP-led and GP-led transactions drawing on Pantheon’s GP relationships and broader private equity platform. This approach allows PGSF VIII to acquire what we believe to be high-quality funds and companies at attractive valuations, building a portfolio diversified by vintage, GP and geography, with a focus on buyout strategies.

Since Pantheon’s first private equity secondaries investment in 1988, secondaries have been a core component of Pantheon’s $41bn* private equity platform, providing investors with access to high-quality private equity exposure through both LP-led and GP-led transactions.

Amyn Hassanally, Partner and Global Head of Private Equity Secondaries at Pantheon, said: “Pantheon is recognized for its early leadership in secondaries, and our private equity secondaries strategy continues to be a compelling way for our investors to access high-quality private equity exposure with the diversification benefits the asset class provides. The depth of our GP relationships and access to extensive data across private equity funds and companies amassed over decades enables us to have conviction and be disciplined about the assets we buy and the partners we back, particularly in the mid-market where access and selection matters most. We enter this next phase with strong conviction in our ability to keep identifying compelling opportunities for our investors.”

Florence Dard, Chief Client Officer at Pantheon, added: ” We are pleased to complete our largest private equity secondaries fundraise to date at $6bn, building on nearly four decades of experience in this market. Our clients value our ongoing focus on the mid-market and our differentiated, longstanding relationships with hard-to-access, top-performing GPs. We are grateful for the continued support of our long-term investors in our private equity secondaries strategy, and are pleased to welcome a strong cohort of new investors this cycle, including significant commitments from Asia and the Middle East.”

Pantheon’s global private equity platform has a 40-year track record of investing across the full lifecycle from primary fund commitments to co-investments and secondaries. This breadth of expertise across private equity, infrastructure, and private credit provides the access, relationships, and structuring capability to source and execute across the widest range of opportunities to create value for investors.