Pathway Closes $250M Co-investment Fund with Oregon PERF

Pathway Capital Management is pleased to announce that it has formed a $250 million customized co-investment fund in partnership with Oregon Public Employees’ Retirement Fund (OPERF), which is managed by the Oregon State Treasury. The new fund will make systematic investments alongside OPERF’s current portfolio of private equity managers.

The new venture expands on the more than 15-year relationship between OPERF and Pathway and also represents an extension of each entity’s decades-long record of investing in the private markets.

OPERF has committed more than $45 billion to private equity since it began investing in the asset class in 1981, and Pathway has committed more than $80 billion across a wide variety of private market strategies—including more than $1.8 billion in co-investments—since its inception in 1991.

Pathway Closes $301 Million PE FOF for Canadian Investor

Pathway closed on a $301 million globally diversified private equity fund of funds for a Canadian institutional investor. The fund will focus on making primary fund investments in private equity partnerships, as well as investments in secondary and co-investment opportunities. This fund represents a continuation of Pathway’s successful 27-year history of investing in private equity, which totals more than $80 billion in commitments. To date, Pathway has developed more than 80 customized solutions for our clients across private equity, private credit, and infrastructure mandates.

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.