Author: Megan Daley

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Pathway Makes 3 Senior Promotions

Pathway is pleased to announce that John Ruggieri, Mikael Sand, and Nick Siemsen have been promoted to Director and are now owners of the firm, bringing the total number of owners of Pathway to 21. As senior members of Pathway’s investment team, all three play an integral role in the firm’s new investment, monitoring, business development, and client-serving efforts.

John joined Pathway in 2010 and is a director in the Rhode Island office. Prior to joining Pathway, he worked as an investment operations analyst with John Hancock Financial Services. John received a BS in business management from Boston College and an MBA from Providence College. He is a CFA charterholder.

Mikael joined Pathway in 2008 and is a director in the London office. Prior to joining Pathway, he worked as a strategy consultant at Oliver Wyman. Mikael received an MA, with first-class honors, in economics and management from University of Oxford and is a CFA charterholder.

Nick joined Pathway in 2010 and is a director in the California office. He previously worked as a financial analyst at Raytheon Network Centric Systems. Nick received a BA in economics from the University of California, Los Angeles, and is a CFA charterholder.

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Pathway Closes $1 Billion for Private Credit Fund

Pathway Capital Management is pleased to announce that it has closed on a $1 billion private credit fund. Pathway Private Credit Fund II will provide debt financing in support of acquisition, recapitalization, refinancing, and growth capital transactions sponsored by leading private equity firms. To date, Pathway has committed more than $5.7 billion to private credit opportunities since it began investing in the asset class in 1994, and has created more than 90 customized programs for its investors since its inception. Pathway has committed more than $85 billion across a wide variety of private market strategies since its inception in 1991.

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Pathway Closes on $380 Million for Asia-Based Investor

Pathway is pleased to announce that it has closed on a $380 million customized fund of funds for an Asia-based institutional investor. The fund will seek to build a diversified portfolio of primary fund investments and co-investments that focus on both the small and middle markets globally. This fund represents a continuation of Pathway’s successful 28-year history of investing in private equity, which totals more than $84 billion in commitments. To date, Pathway has developed more than 85 customized solutions for our clients across private equity, private credit, and infrastructure mandates.

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Pathway Closes $200 Million Co-invest Fund for U.S. Investor

Pathway is pleased to announce that it has formed a $200 million customized co-investment fund in partnership with a U.S.-based institutional investor. The new fund will make co-investments alongside the investor’s current portfolio of private equity managers. To date, Pathway has committed more than $85 billion across a wide variety of private market strategies – including more than $3 billion in co-investments – since its inception in 1991.

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Pathway Scores an A+ for 2019 ESG

Pathway scored an A+ for its ESG efforts in both Private Equity and Strategy & Governance for the 2019 PRI Annual Assessment. Pathway continues to recognize the importance of integrating environmental, social, and governance (ESG) issues into its investment and business practices. Learn more about UNPRI’s mission and find Pathway’s 2019 Transparency Report here.

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Pathway Closes on $878 Million for U.S. Institutional Investor

Pathway is pleased to announce that it has closed on an $878 million globally diversified fund of funds with a U.S.-based institutional investor. The fund, which will focus on making primary fund investments across a variety of private equity strategies, expands Pathway’s long-term relationship with the investor. This fund represents a continuation of Pathway’s successful 28-year history of investing in private equity, which totals more than $80 billion in commitments. To date, Pathway has developed more than 85 customized portfolios for our investors across private equity, private credit, and infrastructure mandates.

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Teri Noble Appointed to WIIIN Board of Directors

Pathway is delighted to announce that Teri Noble, Sr. Vice President, has been appointed to the Women in Institutional Investment Networks Board of Directors in recognition of her in-depth knowledge and experience in the institutional investment industry. Pathway is a proud supporter of the Women in Institutional Investments Network’s mission to facilitate a dialogue to advance and empower women in the Southern California institutional investment community.

To learn more about WIIIN and its mission, visit their website here.

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Pathway Closes on $400 Million for PPEF I-8

Pathway is pleased to announce that in March 2016 it held a final close on $400 million for Pathway Private Equity Fund Investors 8, LP (“PPEF I-8”), its eighth multi-investor core diversified private market fund of funds. Investors included a mix of government and corporate pension plans, insurance companies, and endowments. At $400 million, PPEF I-8 exceeded both its target of $300 million and the $308 million that was raised for its predecessor fund, PPEF I-7, which held its final close in late 2013. PPEF I-8 contributed to Pathway securing more than $3 billion in new capital commitments from investors in 2015.

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Pathway Makes 3 Senior Promotions

Pathway is pleased to announce that Vincent Dee, Valerie Ruddick, and Wayne Smith have been promoted to Managing Directors.

Vincent joined Pathway in 2002 and is a managing director in the California office. He is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Vincent also heads the firm’s market research team, which tracks the data, trends, and issues impacting the private markets and also publishes Pathway’s quarterly Private Market Environment reports and other periodic research reports and studies. Additionally, Vincent serves on the advisory boards of several private market partnerships. Prior to joining Pathway, Vincent worked in the Pension Consulting Division of Wilshire Associates Inc. He received a BA in economics from the University of California, San Diego, and an MBA from the Haas School of Business at the University of California, Berkeley. Vincent is a CFA charterholder and a member of the CFA Society of Los Angeles, Inc.

Valerie joined Pathway in 1996 and is a managing director in the California office. She is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Additionally, Valerie serves on the advisory boards of several private market partnerships. Valerie received a BA in economics, with a minor in business management, from the University of California, Irvine, and an MBA from the Anderson School at the University of California, Los Angeles.

Wayne joined Pathway in 2011 and is a managing director in the Rhode Island office. He is responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Additionally, Wayne serves on the advisory boards of several private market partnerships. Prior to joining Pathway, Wayne managed the private equity program for the $50 billion Pension Reserves Investment Management Board (PRIM) in Massachusetts, where he had worked since 2000. In this capacity, he performed due diligence, recommended investments, and had oversight responsibility for a portfolio of more than 200 limited partnerships and $15 billion in committed capital. Before joining PRIM, Wayne had worked on private equity investments for Liberty Mutual Group since 1996. He received a BA in management from Assumption College and an MBA from Babson College. Wayne is a CFA charterholder.

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Pathway Turns 25

Pathway Capital Management celebrates its 25th year of developing successful private market programs for institutional investors worldwide. On this occasion, we wanted to take a moment to reflect on how grateful we are to our clients and investors, who have entrusted their capital with us to help them achieve their private market fund investing goals. While the private markets have changed substantially over the past 25 years, we have remained true to our core principles: putting our clients and investors first, focusing on what we believe to be high-quality funds worldwide, and building a culture within the firm that promotes a stimulating and rewarding work environment. We look forward to the next 25 years and beyond.