The information in the prospectus and this statement is not complete and may be changed. Securities may not be sold in PSECC 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 PSECC 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, is pleased to announce it has filed for registration an innovative evergreen private credit fund anchored in private credit secondaries. The AMG Pantheon Credit Solutions Fund (PSECC) will become the latest addition to the firm’s growing, global evergreen platform – and will be the first of its type to deliver a private credit secondaries-focused investment strategy to the US private wealth market.
PSECC is designed to offer prospective investors a core private credit exposure, diversified by manager, vintage year, industry sector and company. Leveraging Pantheon’s specialized expertise, relationships and global platform across private credit, and in particular in credit secondaries, the fund will seek to acquire and build a carefully selected portfolio of high-quality, performing private credit at discounted pricing, providing the potential to generate strong, risk-adjusted total returns with an attractive income stream.
PSECC’s focus reflects the rapid evolution of private markets secondaries, fuelled by the substantial growth in private credit over the past decade, as well as the increasing demand for liquidity and portfolio management solutions from both fund managers and investors. We believe the fund will be positioned to benefit from several key strengths of secondary investing, including the potential for attractive discounts that can enhance returns and mitigate against potential defaults, as well as greater diversification, shorter durations and more immediate distributions compared to private credit alternatives.
Rakesh (Rick) Jain, Pantheon Partner and Global Head of Private Credit, commented: “We are excited about extending our position in private credit secondary solutions to this important and growing client channel. We see a strong opportunity for investors to capitalize on the supply-demand imbalance of capital and expertise in this space, similar to the evolution of secondaries across private equity, infrastructure and real assets.”
Pantheon has been investing in private markets secondaries since 1988 and was a pioneer in credit secondaries, launching the world’s first dedicated fund in 2018. With more than $3bn in client assets dedicated to private credit secondaries, the firm is positioned as one of the largest and most experienced investors in the space. More broadly, Pantheon has been investing in private credit since 1997 and its dedicated practice has $6.7bn in assets under management or advice, with strategies covering the entire credit spectrum and a range of commingled and bespoke funds and accounts.
PSECC will be the second vehicle launched within Pantheon’s US Private Wealth division and will sit alongside the AMG Pantheon Fund, one of the largest and most established registered private equity funds in the US with approximately $2.3bn in assets under management . The firm’s broader private wealth platform manages more than $5.8bn globally across a range of evergreen solutions.
Michael Hutten, Pantheon Partner and Head of US Private Wealth, said “We have heard from the private wealth community that demand for private credit funds is increasingly focused on addressing concerns around inflation, rising rates, credit defaults and the continued need for enhanced income. We believe the unique combination of diversification, income and total returns in private credit secondaries offers a compelling, differentiated allocation solution for investors.”
Rachel Jacobs, Head of Client Solutions at AMG, added: “AMG is excited to expand our long-term partnership with Pantheon in providing the adviser community with access to differentiated exposures through innovative private markets solutions, including the AMG Pantheon Fund and, soon, a first-of-its-kind private credit secondaries strategy for the US wealth marketplace through PSECC.”