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P-BUILD
Account Access
Account Access

AMG Pantheon Infrastructure
Fund (P-BUILD)

Account Access

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This information is not an offer to sell securities issued by AMG Pantheon Infrastructure Fund LLC (the “Fund”). Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800-548-4539 or download a free prospectus. Read it carefully before investing or sending money. Everyone cannot invest like an institution. Institutions are professional money managers who have unique access and the ability to perform extensive due diligence on managers. Many investors’ experience, financial means, objectives, risk tolerance, and time frame will differ from that of institutions, and they may not be able to access the same investment opportunities as institutions. These factors should be taken into consideration when creating an allocation to alternatives. Diversification does not ensure profit nor protect against loss.

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. The Fund seeks to provide diversified exposure to private infrastructure assets and investments across sectors such as digital, renewable energy, utilities, transportation, and social infrastructure. These investments may be subject to significant business, financial, regulatory, and environmental risks that can result in substantial losses.
The investment adviser of the Fund is Pantheon Infra Advisors LLC (“PINFRA” or the “Adviser”) and the Fund’s subadviser is Pantheon Ventures (US) LP (the “Subadviser”). The Fund is non-diversified, which means that it may be invested in a relatively small number of underlying funds or portfolio companies, which subjects the Fund to greater risk and volatility than if the Fund’s assets had been invested in a broader range of issuers. No assurance can be given that the Fund’s investment program will be successful. An investment in the Fund should be viewed only as part of an overall investment program.

An investment in the Fund is speculative and involves substantial risks. It is possible that investors may lose some or all of their investment. In general, alternative investments such as private infrastructure involve a high degree of risk, including potential loss of principal invested. These investments can be highly illiquid, charge higher fees than other investments, and typically do not grow at an even rate of return and may decline in value. In addition, past performance is not necessarily indicative of future results.

In addition to all of the risks inherent in alternative investments, an investment in the Fund involves specific risks associated with private infrastructure investing. Underlying funds and many of the securities held by underlying funds may be difficult to value and will be priced in the absence of readily available market quotations, based on determinations of fair value, which may prove to be inaccurate. Fund investors will bear asset-based fees and expenses and will also indirectly bear fees, expenses. Underlying funds will not be registered as investment companies under the Investment Company Act of 1940, as amended (the “1940 Act”), and the Fund’s investments in underlying funds will not benefit from the protections of the 1940 Act. The value of the Fund’s investments in underlying funds will also fluctuate and may decline.

The Fund’s investment portfolio will consist of primary and secondary investments in infrastructure funds that hold securities issued primarily by privately held companies (“Investment Funds”), co-investments, ETFs, cash and cash-equivalents. Many of such investments involve a high degree of business and financial risk that can result in substantial losses. Subject to the limitations and restrictions of the 1940 Act, the Fund may use derivative transactions, primarily equity options and swaps, for hedging purposes. Options and swaps transactions present risks arising from the use of leverage (which increases the magnitude of losses), volatility, the possibility of default by a counterparty, and illiquidity. Use of options and swaps transactions for hedging purposes by the Fund could present significant risks, including the risk of losses in excess of the amounts invested. Additionally, the Fund may invest in ETFs. The risk of ETFs designed to track equity indexes may include passive strategy risk (the ETF may hold constituent securities of an index regardless of the current or projected performance of a specific security or a particular industry, market sector, country, or currency, which could cause returns to be lower or higher than if an active strategy were used), non-correlation risk (the ETF’s return may not match the returns of the relevant index), equity securities risk (the value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions, and/or economic conditions), market trading risks (the ETF faces market trading risks, including losses from trading in secondary markets and disruption in the creation/redemption process of the ETF), and concentration risk (to the extent the ETF or underlying index’s portfolio is concentrated in the securities of a particular geographic or market segment, the ETF may be adversely affected by the performance of that particular segment and be more susceptible to adverse economic, market, political or regulatory occurrences affecting that segment). The Fund may invest, including for defensive purposes, directly and indirectly, some or all of its assets in high quality fixed-income securities, money market instruments and money market mutual funds, or hold cash or cash equivalents in such amounts as the Adviser or general partner, manager or equivalent of the underlying Investment Fund (the “Investment Fund manager(s)”) deem appropriate under the circumstances. In addition, the Fund or an Investment Fund may invest in these instruments pending allocation of its assets, and the Fund will seek to retain cash or cash equivalents in sufficient amounts to satisfy capital calls from Investment Funds. Money market instruments are generally high quality, short-term fixed-income obligations, which typically have remaining maturities of one year or less and may include U.S. Government securities, commercial paper, certificates of deposit and bankers acceptances issued by domestic branches of U.S. banks that are members of the Federal Deposit Insurance Corporation, and repurchase agreements. The performance of these investments may be adversely affected by tax, legal, legislative, regulatory, credit, political or government changes, interest rate increases and the financial conditions of issuers, which may pose credit risks that result in issuer default.

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. Pantheon Securities, LLC, a member of
FINRA/SIPC, serves as the sub-distributor for the Fund.

I am:

P-BUILD provides investors with exposure to a diversified Private Infrastructure portfolio sourced by Pantheon’s dedicated Private Infrastructure team. The Fund offers potential for attractive risk adjusted returns, distributable yield, and significant diversification across infrastructure assets, sectors, vintage years, and leading private infrastructure managers.

  • Diversified private infrastructure exposure through a single allocation with exposure across managers and sub-sectors
  • Access to unique secondary investment opportunities from Pantheon’s global infrastructure platform
  • Evergreen allocation tool with immediate exposure and quarterly liquidity

Fund Documents

Factsheet Presentation Prospectus Other Documents

KEY TEAM MEMBERS

Andrea Echberg

Partner, London

Jeff Miller

Partner, CIO, San Francisco

Dinesh Ramasamy

Partner, San Francisco
Article

Evercore State of the Market – Infrastructure secondaries are powering up

Research

Infrastructure secondaries: Capitalizing on solid foundations

Press Release

Pantheon expands US private wealth offerings with evergreen infrastructure fund

*Discretionary AUM figure as of June 30, 2025.

Disclosures:

This information is not an offer to sell securities issued by AMG Pantheon Infrastructure Fund LLC (the “Fund”). Investors should carefully consider the Fund’s investment objectives, risks, charges and expenses before investing. For this and other information, please call 800-548-4539 or download a free prospectus. Read it carefully before investing or sending money. Everyone cannot invest like an institution. Institutions are professional money managers who have unique access and the ability to perform extensive due diligence on managers. Many investors’ experience, financial means, objectives, risk tolerance, and time frame will differ from that of institutions, and they may not be able to access the same investment opportunities as institutions. These factors should be taken into consideration when creating an allocation to alternatives. Diversification does not ensure profit nor protect against loss.

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. The Fund seeks to provide diversified exposure to private infrastructure assets and investments across sectors such as digital, renewable energy, utilities, transportation, and social infrastructure. These investments may be subject to significant business, financial, regulatory, and environmental risks that can result in substantial losses.

The investment adviser of the Fund is Pantheon Infra Advisors LLC (“PINFRA” or the “Adviser”) and the Fund’s subadviser is Pantheon Ventures (US) LP (the “Subadviser”). The Fund is non-diversified, which means that it may be invested in a relatively small number of underlying funds or portfolio companies, which subjects the Fund to greater risk and volatility than if the Fund’s assets had been invested in a broader range of issuers. No assurance can be given that the Fund’s investment program will be successful. An investment in the Fund should be viewed only as part of an overall investment program.

An investment in the Fund is speculative and involves substantial risks. It is possible that investors may lose some or all of their investment. In general, alternative investments such as private infrastructure involve a high degree of risk, including potential loss of principal invested. These investments can be highly illiquid, charge higher fees than other investments, and typically do not grow at an even rate of return and may decline in value. In addition, past performance is not necessarily indicative of future results.
In addition to all of the risks inherent in alternative investments, an investment in the Fund involves specific risks associated with private infrastructure investing. Underlying funds and many of the securities held by underlying funds may be difficult to value and will be priced in the absence of readily available market quotations, based on determinations of fair value, which may prove to be inaccurate. Fund investors will bear asset-based fees and expenses and will also indirectly bear fees, expenses. Underlying funds will not be registered as investment companies under the Investment Company Act of 1940, as amended (the “1940 Act”), and the Fund’s investments in underlying funds will not benefit from the protections of the 1940 Act. The value of the Fund’s investments in underlying funds will also fluctuate and may decline.

The Fund’s investment portfolio will consist of primary and secondary investments in infrastructure funds that hold securities issued primarily by privately held companies (“Investment Funds”), co-investments, ETFs, cash and cash-equivalents. Many of such investments involve a high degree of business and financial risk that can result in substantial losses. Subject to the limitations and restrictions of the 1940 Act, the Fund may use derivative transactions, primarily equity options and swaps, for hedging purposes. Options and swaps transactions present risks arising from the use of leverage (which increases the magnitude of losses), volatility, the possibility of default by a counterparty, and illiquidity. Use of options and swaps transactions for hedging purposes by the Fund could present significant risks, including the risk of losses in excess of the amounts invested. Additionally, the Fund may invest in ETFs. The risk of ETFs designed to track equity indexes may include passive strategy risk (the ETF may hold constituent securities of an index regardless of the current or projected performance of a specific security or a particular industry, market sector, country, or currency, which could cause returns to be lower or higher than if an active strategy were used), non-correlation risk (the ETF’s return may not match the returns of the relevant index), equity securities risk (the value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions, and/or economic conditions), market trading risks (the ETF faces market trading risks, including losses from trading in secondary markets and disruption in the creation/redemption process of the ETF), and concentration risk (to the extent the ETF or underlying index’s portfolio is concentrated in the securities of a particular geographic or market segment, the ETF may be adversely affected by the performance of that particular segment and be more susceptible to adverse economic, market, political or regulatory occurrences affecting that segment). The Fund may invest, including for defensive purposes, directly and indirectly, some or all of its assets in high quality fixed-income securities, money market instruments and money market mutual funds, or hold cash or cash equivalents in such amounts as the Adviser or general partner, manager or equivalent of the underlying Investment Fund (the “Investment Fund manager(s)”) deem appropriate under the circumstances. In addition, the Fund or an Investment Fund may invest in these instruments pending allocation of its assets, and the Fund will seek to retain cash or cash equivalents in sufficient amounts to satisfy capital calls from Investment Funds. Money market instruments are generally high quality, short-term fixed-income obligations, which typically have remaining maturities of one year or less and may include U.S. Government securities, commercial paper, certificates of deposit and bankers acceptances issued by domestic branches of U.S. banks that are members of the Federal Deposit Insurance Corporation, and repurchase agreements. The performance of these investments may be adversely affected by tax, legal, legislative, regulatory, credit, political or government changes, interest rate increases and the financial conditions of issuers, which may pose credit risks that result in issuer default.
Investment products are not FDIC insured, are not bank guaranteed and may lose value.

This material does not constitute an offer. Information herein is liable to be modified or withdrawn. As used herein, references to “Pantheon” are inclusive of all entities that encompass the Pantheon Group: Pantheon Ventures Inc., Pantheon Ventures (US) LP, Pantheon Infra Advisors LLC, Pantheon Ventures (UK) LLP, Pantheon Ventures (Ireland) DAC, Pantheon Ventures (Asia) Limited and Pantheon Ventures (HK) LLP and their respective subsidiary undertakings. Pantheon Ventures Inc., Pantheon Ventures (US) LP and Pantheon Infra Advisors LLC are, inter alia, registered as investment advisers with the SEC. Pantheon Securities, LLC is an SEC registered Broker Dealer and FINRA member located in the U.S. Pantheon Ventures (UK) LLP is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. Pantheon Ventures (Ireland) DAC is regulated by the Central Bank of Ireland. Pantheon Ventures (Asia) Limited is registered as a Type II Financial Instruments Business and Investment Advisory and Agency Business Operator under the registration entry “Director General of the Kanto Local Finance Bureau” (Financial Instruments Business Operator) No. 3138 under the Financial Instruments and Exchange Act of Japan (the “FIEA”) and a regular member of the Type II Financial Instruments Firms Association of Japan and Japan Investment Advisers Association to “Professional Investors” (tokutei toshika) as defined in Article 2, paragraph 31 of the FIEA. Pantheon Ventures (HK) LLP is regulated by the Securities and Futures Commission in Hong Kong. Any track record, AUM figure, and performance data included in these materials is that of the Pantheon Group and is not specific to Pantheon Infra Advisors LLC. Investment professionals as depicted herein are employees of the Pantheon Group entities.

AMG Funds are distributed by AMG Distributors, Inc., a member of FINRA/SIPC. Pantheon Securities, LLC, a member of FINRA/SIPC, serves as the sub-distributor for the Fund.