Over the past quarter of a century, Pantheon has developed close investment relationships with some of the best global private equity managers, yet we are constantly searching for managers who have special expertise.

As part of our due diligence, Pantheon searches for these qualities:

• A demonstrated, successful record of value creation.
• Sustainable competitive advantages through industry expertise and relationships.
• Capital objectives that match the firm's ability to create and manage deals.
• Consistent investment results over time and by stage, industry, sector, office, and investment professional.
• Attention to the details of managing their own firms from employee development to succession.
• A reputation for ethical behavior.

Can a New Firm Get Pantheon's Attention?
While it is easier for established, successful firms to satisfy our due diligence requirements, we recognize that all good firms began as start-ups with "emerging" characteristics. We consider first-time funds, but the team must have verifiable records of investing together at another institution, and must have sufficient competitive advantages to compensate for the additional risk we accept to invest in a new firm.

On Which Sectors Does Pantheon Focus?
Pantheon builds diversified portfolios of private equity investment funds. We are interested in venture capital (early and late stage), leveraged buyouts of varying sizes, and control-oriented reorganization or turnaround funds. We occasionally make commitments to subordinated debt funds, but we are an equity-oriented firm.

What is the Typical Commitment Amount?
The amount varies, depending on the nature of the private equity fund and our portfolio requirements.