Pantheon Seeks Over $2 Billion to Trade Secondhand Private Debt

Pantheon Ventures is seeking to raise more than $2 billion for two funds investing in the credit-secondaries market, according to people with knowledge of the matter.

Pantheon is targeting as much as $1.25 billion for its third flagship credit-secondaries fund, said the people, who declined to speak publicly as the matter is private. It’s also seeking to raise as much a $1 billion for another vehicle which targets more high-yielding credit opportunities.

Momentum is building around the so-called secondaries market, which provides a conduit for investors to offload positions in otherwise illiquid private-credit funds.

A spokesperson for Pantheon declined to ...