Pantheon Closes $6B Secondaries Fund; Nest’s HarbourVest PE Mandate Tops £2B

Pantheon Closes $6B Secondaries Fund

Nest’s HarbourVest PE Mandate Tops £2B

Pantheon held the final close of Pantheon Global Secondaries Fund VIII and associated vehicles at $6B, exceeding its $3.5B target by 71% and drawing new investors in Asia and the Middle East. The firm called it its largest private equity secondaries fundraise to date. Elsewhere, New York-based Northwind Group closed Northwind Debt Fund III at $1B, double its $500M target.

Looking ahead, Bonaccord Capital Partners launched its third GP-stakes vehicle with a $1.6B target, matching the hard cap that closed its predecessor nine months ago. The fund has raised $619M from 57 investors, according to its latest SEC filing. Marathon Asset Management, now operating as CVC Marathon, filed to raise Marathon Opportunistic Credit Fund III, following its predecessor’s $2.7B close in March 2025. Separately, Siris launched October Capital, a services-focused private equity firm led by co-founder Frank Baker; the firm’s next fund, October Capital II, could begin fundraising at the end of next year.

On the allocator side, Nest said commitments to its HarbourVest Partners-managed private equity mandate have surpassed £2B ($2.7B), up from £750M when HarbourVest was appointed in 2022. Sacramento County Employees’ Retirement System disclosed six commitments totaling $300M in September. Los Angeles County Employees’ Retirement Association committed $50M to a co-investment alongside Mill Point Capital Partners.

In leadership developments, Njord Partners appointed Kirsty Acton, formerly of EQT, as head of capital formation and fundraising partner. Macquarie Asset Management named Linso Pals as senior managing director and head of credit within its client solutions group.