London-based Pantheon Group is one of several asset managers that has added a real estate platform over the past two years. Unlike most of those groups though, the secondary specialist did not make its entrance through a merger or acquisition.
Instead, Pantheon executed a lift out, hiring a pair of seasoned investors from a competing firm – San Francisco-based GI Partners – to build a new platform.
Kathryn Leaf, partner and head of real assets at Pantheon, was put in charge of that search process. In this podcast, she tells PERE why her firm opted for this route and how it executed its plan in the middle of the covid-19 pandemic, which impacted the search in an unexpected way.