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ISSUE 108 | AUGUST 2025
Pantheon targets insurance clients for growth in credit secondaries PANTHEON’S private credit duo expects insurance companies to fuel further growth for the business, after closing a $5.2bn (£3.9bn) senior debt strategy earlier this year with a sizeable chunk of capital from this client segment. “We are spending a lot of time addressing investor demand from the insurance side, and that's an area where clients are looking for capital efficient solutions,” Rick Jain (pictured left), global head of private credit, told Alternative
Credit Investor. “They like the diversification and duration aspects of credit secondaries, in particular.
It's not just diversification by company, but by manager and vintage year. We expect that to be a big growth area for us.”
Pantheon launched its first credit secondaries fund, focused on Europe, in 2018, at a time when there weren’t many of such strategies around. Since then, Jain says it’s been a “steady and disciplined focus” on growth, with the group now managing $12bn across the division and a range of vehicles, including evergreen ones. Although private credit secondaries have largely focused on LP-led deals, there has been a growing interest in GPled transactions in >> 4
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