Pathway Capital Management
 | |
| Company type | Private |
|---|---|
| Industry | Investment management |
| Founded | 1991 |
| Founders |
|
| Headquarters | Irvine, California, U.S. |
| AUM | US$90 billion (2024) |
Number of employees | 235 (2024) |
| Website | www |
| Footnotes / references [1] | |
Pathway Capital Management (Pathway) is an American private markets firm headquartered in Irvine California. The majority of the firm's assets are in private fund of funds strategies for institutional investors.[2] In 2020, Preqin ranked the firm as the fifth-largest fund of funds globally with $62 billion in assets under management.[3]
Outside the U.S., the firm has offices in Europe and Asia-Pacific.
Background
[edit]Pathway was founded in 1991 by several Partners from Wilshire Associates. Le Bon who was one of the co-founders grew a practice helping pension funds invest in private markets while at Wilshire Associates. Pathway initially started as a private equity consultant that would advise pension funds on what to invest in.[2][4] Early clients includes CalSTRS which it won a contract partially by charging lower fees than its peers.[5]
In October 2006, Pathway halted its consulting services as it moved into the more lucrative investment management business where it could directly manage fund of funds accounts instead. Pathway informed the Los Angeles County Employees Retirement Association and Massachusetts Pension Reserves Investment Management Board that it would not rebid on its private equity consulting contracts because it no longer worked on advisory accounts. Pathway would focus on building a specialty funds business, in which it manages a specific private equity fund of funds-type arrangement with a single, large institutional investor.[6]
Pathway charges a management fee based on the net asset values of their funds during their extended terms. During the initial terms, it charges management fee on their invested capital.[7]
References
[edit]- ^ "Form ADV" (PDF).
- ^ a b Gelsi, Steve (March 12, 2014). "Pathway discloses $700 mln for Fund XXV". Buyouts. Retrieved November 2, 2024.
- ^ "FUND OF FUNDS PE VC CREDIT | 5Capital Advisors Placement Agent". 5capital. Retrieved November 2, 2024.
- ^ "CSUDH Alumnus Donates Historic Gift - CSUDH Magazine". February 18, 2022. Retrieved November 2, 2024.
- ^ Granelli, James S. (March 8, 1997). "Irvine Firm to Manage CalSTRS Portfolio". Los Angeles Times. Retrieved November 2, 2024.
- ^ Jacobius, Arleen (October 30, 2006). "Pathway halts consulting". Pensions & Investments.
- ^ Gethard, Gregg (October 13, 2023). "Marin County has tough questions for FoF managers Abbott and Pathway". Venture Capital Journal. Retrieved November 2, 2024.
External links
[edit]
- 1991 establishments in California
- Alternative investment management companies
- American companies established in 1991
- Companies based in Irvine, California
- Financial services companies established in 1991
- Investment management companies of the United States
- Privately held companies based in Illinois
- Private equity firms of the United States