Pathway Scores A+ in ESG

Pathway is pleased to announce that it received PRI scores of A+ in Private Equity and A in Strategy and Governance. Pathway is an official signatory of the PRI initiative and recognizes the importance of integrating environmental, social, and governance (ESG) issues into its investment and business practices where Pathway can promote, influence, or implement change to create more-sustainable markets while fulfilling its fiduciary duty to its investors. Learn more about UNPRI’s mission and find Pathway’s 2018 Transparency Report here: https://www.unpri.org/

Pathway Closes on $602 Million for a Pathway Private Equity Co-investment Fund

Pathway Capital Management, LP, is pleased to announce that it has closed Pathway Private Equity Fund CV-B (“PPEF CV-B”), a $602 million private equity co-investment fund formed in partnership with a U.S.-based institutional investor. PPEF CV-B will focus on identifying and investing in co-investment opporutnities globally alongside high-quality private equity managers across a variety of strategies. PPEF CV-B represents a continuation of Pathway’s successful 27-year track record of investing in private equity, which includes more than $1.2 billion invested in private equity co-investments. Since the inception of the firm in 1991, Pathway has participated in the development of more than 85 private market portfolios, committing more than $75 billion across a wide variety of private market strategies.

Pathway Closes on $500 Million for Pathway/AK Credit Co-investment Fund, LP

Pathway Capital Management, LP, is pleased to announce that it has formed Pathway/AK Credit Co-Investment Fund, LP (the “Co-Investment Fund”), a $500 million private credit co-investment fund in partnership with the Alaska Permanent Fund Corporation (the APFC). The Co-Investment Fund will focus on identifying and investing in co-investment opportunities globally alongside high-quality private credit managers across a range of strategies, including senior direct lending, mezzanine, and opportunistic credit. The Co-Investment Fund represents an extension of Pathway’s successful 23-year track record of investing in private credit, which includes commitments of more than $6 billion across the private credit market spectrum. To date, Pathway has created more than 45 funds of funds for our investors, which represent more than $20 billion in commitments.

Pathway Promotes Simon Lau to Director

Pathway is pleased to announce that Simon Lau has been promoted to Director and has become an owner of the firm, bringing the total number of owners of Pathway to 19. As a senior member of Pathway’s Asia team, Simon conducts due diligence on opportunities and works closely with the firm’s current and new clients in the region.

Simon joined Pathway in 2006 and spent his first six years with the firm working in the London office before relocating to open Pathway’s Hong Kong office in 2012. Prior to joining Pathway, Simon worked in the Business Consulting Division of Accenture, where he focused on financial services clients within Europe, and prior to that, as a business analyst at Instinet Europe Ltd., an electronic equities brokerage.

 

Pathway Closes on $289 Million for PPEF I-9

Pathway is pleased to announce that it has held a final close on $289 million for Pathway Private Equity Fund Investors 9, LP (“PPEF I-9”), its ninth multi-investor core-diversified private market fund of funds. Investors included a mix of government and corporate pension plans, insurance companies, endowments, foundations, and high-net-worth individuals. The fund will continue its predecessors’ strategy by making primary fund investments in private market managers, as well as investments in secondary and co-investment opportunities. The fund will leverage Pathway’s more than 27-year history of private market investing, which includes in excess of $77 billion committed to more than 575 investments across a variety of private market opportunities.

Pathway Makes 5 Senior Promotions

Pathway is pleased to announce that Jason Jenkins, Canyon Lew, Matthew Lugar, Derrek Ransford, and Pete Veravanich have been promoted to Managing Directors. As Managing Directors, they are responsible for investment analysis and due diligence, negotiating and reviewing investment vehicle documents, and client servicing. Additionally, they serve on the advisory boards of several private market partnerships.

Prior to joining Pathway in 2004, Jason worked as a transitions associate at State Street IMS. He received a BS in finance from Northern Arizona University and an MBA, with a concentration in finance, from California Polytechnic University. Jason is a CFA charterholder and a member of the CFA Society of Los Angeles, Inc.

Canyon joined Pathway in 2004 and previously worked for Fleet Fund Investors as an associate. He received an AB in economics and engineering from Brown University and an MS in investment management from Boston University.

Prior to joining Pathway in 2002, Matthew worked as an analyst with Allied Financial Services. He received a BA in business administration from Azusa Pacific University and an MBA from the Paul Merage School of Business at the University of California, Irvine.

Prior to joining Pathway in 2002, Derrek worked at Deloitte & Touche as an auditor and at Arthur Andersen as a financial analyst. He received a BA in business economics, with an emphasis in accounting, from the University of California, Santa Barbara. He is a CFA charterholder and a certified public accountant (inactive).

Pete joined Pathway in 2000 and previously worked at Pacific Investment Management Company as a performance associate. He received a BA in economics from the University of California, Los Angeles and an MBA from the University of Southern California.

Pathway Closes on $100 Million for Secondary Fund

Pathway is pleased to announce that in late December it held a final close for Pathway Secondaries Fund, LP (“PSF”), on $100 million from a single institutional investor. PSF will focus on identifying and investing in secondary interests of funds managed by high-quality private market managers across a range of strategies, regions, and vintage years. The fund represents an extension of Pathway’s successful 13-year track record of purchasing secondary interests in buyout, special situation, debt-related, and venture capital funds around the globe. The fundraising capped an active 2016 for Pathway, during which the firm committed $3.9 billion to private market primaries and secondaries and $350 million to 12 co-investments.

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.

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.

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.