Private Equity Firm Financial Services

Pantheon

London, United Kingdom

Pantheon is a global private markets investor and manager focused on private equity, secondaries, and customized private market solutions across private equity, real assets, and private credit.

Focus Areas
Private equity, Secondaries, Private credit

Tracked deals

9

9 tracked deals across 2019-2026.

Recent pace

1

1 tracked deal announced in the last 12 months.

Deal mix

Recapitalization

5 recapitalization · 2 divestiture · 1 buyout

Pantheon Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for Pantheon. 1 2019 1 2022 3 2023 1 2024 2 2025 ~1 est. 1 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Exponent, Apollo S3, Pantheon, SQ Capital, LGT Capital Partners, Hamilton Lane (direct equity funds managed)
    Target
    H&MV Engineering
    Seller
    Exponent Fund IV, certain minority investors
    Location
    Munster, Ireland

    Exponent has closed an approximately €750 million single-asset continuation vehicle to extend its investment in H&MV Engineering, valuing the Ireland-headquartered infrastructure engineering company at €1.4 billion. The continuation vehicle, led by Apollo S3, Pantheon and SQ Capital, will acquire H&MV from Exponent Fund IV and certain minority investors, subject to customary regulatory approvals and closing conditions.

  • Buyer
    ECI Partners continuation fund (ECI-managed continuation vehicle), Carlyle AlpInvest, HarbourVest Partners, Pantheon
    Target
    CSL Group
    Seller
    ECI Partners
    Location
    United Kingdom

    ECI Partners has exited CSL, the UK-based critical IoT connectivity specialist, into an ECI-managed continuation fund led by existing ECI investors Carlyle AlpInvest, HarbourVest Partners and Pantheon, generating a 3.5x return on ECI’s investment. CSL grew c.20% organically during ECI’s ownership, has launched products such as rSIM, and will continue its expansion strategy (including M&A) under the continuation vehicle.

  • Buyer
    Hollyport Capital, Pantheon, Portfolio Advisors, Brentwood Associates
    Target
    Watermill Express
    Seller
    Existing Brentwood limited partners
    Industry
    Retail

    Brentwood Associates closed an oversubscribed $410 million single-asset continuation fund to support the growth of Watermill Express. The continuation fund is primarily backed by **Hollyport Capital**, with **Pantheon** and **Portfolio Advisors** co-leading; Brentwood remains invested and is also investing through its Fund VII to support Watermill's next phase of expansion.

  • Buyer
    GP-led continuation fund (managed by an affiliate of Morgan Stanley Capital Partners), Pantheon, Blue Owl Strategic Equity, Lexington, Norwest, Ares Management Funds, AltamarCAM, Churchill
    Target
    World 50 Parent LLC (World 50)
    Seller
    Investment funds managed by Morgan Stanley Capital Partners (MSCP)

    Investment funds managed by Morgan Stanley Capital Partners (MSCP) sold World 50 to a single-asset, GP-led continuation fund managed by an affiliate of MSCP. The continuation vehicle was led by investments from Pantheon with co-lead participation from Blue Owl Strategic Equity and Lexington; Norwest, Ares Management Funds, AltamarCAM and Churchill also committed, providing liquidity to the selling funds and capital to support World 50's next growth chapter.

  • Buyer
    GHO Capital Partners LLP, Partners Group, AlpInvest Partners (funds managed by AlpInvest), Pantheon
    Target
    Sterling Pharma Solutions
    Industry
    Pharmaceuticals
    Location
    United Kingdom

    GHO Capital (majority owner) and Partners Group have completed an investment into GHO portfolio company Sterling Pharma Solutions, with Partners Group acquiring a significant minority stake. The transaction is supported by a consortium led by funds managed by AlpInvest Partners and Pantheon and will fund Sterling's expansion of production capacity, capability build-out and further strategic acquisitions across the UK, Europe and the US.

  • Buyer
    Oakley Capital, Oakley Capital Fund V, TPG GP Solutions, HarbourVest Partners, Goldman Sachs Asset Management, Glendower Capital, Pantheon
    Target
    IU Group
    Seller
    Oakley Capital Fund III
    Industry
    Education
    Location
    Bavaria, Germany

    Oakley Capital has raised a continuation fund, backed by investors including TPG GP Solutions, HarbourVest Partners, Goldman Sachs Asset Management, Glendower Capital and Pantheon, to acquire IU Group alongside Oakley Capital Fund V from Oakley Capital Fund III. The transaction is a continuation/recapitalization that extends Oakley's partnership with IU's management to support further international expansion, technology (AI) investment and continued growth in the online higher-education market.

  • Buyer
    Triton IV Continuation Fund (TIV CF), HarbourVest Partners, LGT Capital Partners, Eurazeo, Pantheon
    Target
    Assemblin, EQOS Energie, Flokk, Unica
    Seller
    Triton Fund IV
    Location
    Multiple (Sweden, Germany, Norway, Netherlands)

    Triton Fund IV has sold a portfolio of four companies—Assemblin, EQOS Energie, Flokk and Unica—into a new vehicle, Triton IV Continuation Fund (TIV CF), which closed at €1.63 billion. The continuation fund was underwritten by HarbourVest Partners and LGT Capital Partners with anchor commitments from Eurazeo and Pantheon, and provides liquidity to Triton Fund IV investors while allowing rollovers into the new vehicle.

  • Buyer
    Stone‑Goff Partners II CF, LP, Pantheon, abrdn Private Equity, Stone‑Goff reinvesting LPs and GPs
    Target
    John Staurulakis, LLC (JSI)
    Seller
    Stone‑Goff Partners II, LP and affiliates

    Stone‑Goff Partners II CF, LP, a GP‑led continuation fund sponsored by Stone‑Goff Partners, acquired a majority interest in John Staurulakis, LLC (JSI) in a secondary/recapitalization transaction. Pantheon was the lead investor in the continuation fund and was joined by abrdn Private Equity and reinvesting Stone‑Goff LPs/GPs; the recapitalization provides capital for JSI to pursue additional acquisitions and organic growth.

  • Buyer
    Pantheon
    Target
    StagingPilot
    Industry
    Cloud & SaaS
    Type
    Buyout

    Pantheon, the WebOps platform for Drupal and WordPress, has acquired StagingPilot to incorporate its website update automation and visual regression testing capabilities into Pantheon's managed updates and WebOps offering. The StagingPilot team will join Pantheon and current StagingPilot customers are given time to migrate to Pantheon services.

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