{ "crd_number": 153425, "slug": "pantheon-san-francisco-ca-153425", "primary_business_name": "PANTHEON", "legal_name": "PANTHEON VENTURES (US) LP", "dbas": [], "city": "San Francisco", "state": "CA", "country": "United States", "cbsa_code": "41860", "metro": { "cbsa_code": "41860", "common_name": "San Francisco", "msa_name": "San Francisco-Oakland-Fremont, CA", "path": "/advisors/ca/san-francisco" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2010-04-28", "years_registered": 16, "period": "2026-10-01", "filing_date": "2026-07-14", "carried_forward": false, "raum_total": 87688577202.0, "raum_discretionary": 57570814272.0, "raum_non_discretionary": 30117762930.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 129, "advisory_employees": 56, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 11693668830.0, "count": 1, "fewer_than_5": true }, "state_municipal": { "raum": 1050585599.0, "count": 3, "fewer_than_5": true }, "investment_companies": { "raum": 6251134271.0, "count": 2 }, "pension_profit_sharing": { "raum": 22657964982.0, "count": 11 }, "pooled_investment_vehicles": { "raum": 46021256447.0, "count": 139 }, "corporations_other_businesses": { "raum": 13967073.0, "count": 1, "fewer_than_5": true } }, "compensation_types": [ "fixed", "percentage_of_aum", "performance_based" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "CA" ], "websites": [ "https://linkedin.com/COMPANY/PANTHEON-VENTURES", "https://pantheon.com", "https://vimeo.com/PANTHEON" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/153425", "city_as_filed": "SAN FRANCISCO", "url": "https://advisorcensus.com/firm/pantheon-san-francisco-ca-153425", "display_name": "Pantheon", "summary": "Pantheon is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 14, 2026.", "citation": "AdvisorCensus. Pantheon (CRD 153425): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)", "Performance-based fees" ], "advisory_activity_labels": [ "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Pantheon compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Pantheon reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees." }, { "q": "How much does Pantheon charge?", "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement." }, { "q": "Where is Pantheon located?", "a": "Pantheon's principal office is in San Francisco, CA, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F)." }, { "q": "Is Pantheon registered with the SEC or a state?", "a": "Pantheon is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 153425." }, { "q": "How much does Pantheon manage?", "a": "Pantheon reports $87,688,577,202 in regulatory assets under management in its Form ADV filing dated July 14, 2026 (66% discretionary)." }, { "q": "How have Pantheon's assets and staff changed since 2021?", "a": "In the Form ADV data for Pantheon: Regulatory assets under management: $32,788,052,924 in the October 2021 data and $87,688,577,202 in the October 2026 data, up 167%. Total employees: 80 in October 2021 and 129 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Pantheon serve?", "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (139); pension and profit sharing plans (but not the plan participants or government pension plans) (11); state or municipal government entities (including government pension plans) (3)." }, { "q": "Which custodians does Pantheon use?", "a": "Pantheon's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Pantheon report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/153425" }, { "q": "What changed in Pantheon's recent Form ADV filings?", "a": "In the August 2026 filing data: Changed its office addresses in New York, NY." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 32788052924.0, "total_employees": 80, "filing_date": "2021-07-02" }, { "period": "2022-10-01", "regulatory_assets_under_management": 45900535817.0, "total_employees": 93, "filing_date": "2022-08-10" }, { "period": "2023-10-01", "regulatory_assets_under_management": 54085991054.0, "total_employees": 110, "filing_date": "2023-07-31" }, { "period": "2024-10-01", "regulatory_assets_under_management": 71532004176.0, "total_employees": 110, "filing_date": "2024-07-24" }, { "period": "2025-10-01", "regulatory_assets_under_management": 75291773328.0, "total_employees": 103, "filing_date": "2025-07-18" }, { "period": "2026-10-01", "regulatory_assets_under_management": 87688577202.0, "total_employees": 129, "filing_date": "2026-07-14" } ], "recent_changes": [ { "period": "2026-08-01", "period_label": "August 2026", "notes": [ "Changed its office addresses in New York, NY." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 52 to 56.", "Regulatory assets under management went from $75,291,773,328 to $87,688,577,202 (+16%).", "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 31, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": "0.25% to 1.5% a year", "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it)" ], "quotes": [ "Typically, the basic fee schedule for our funds is an annual management fee (payable to PV US ) that can range from 0.25% to 1.50% of aggregate capital commitments" ] } ], "values": { "tiers": [], "range_pct": [ 0.25, 1.5 ], "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "Typically, the basic fee schedule for our funds is an annual management fee (payable to PV US ) that can range from 0.25% to 1.50% of aggregate capital commitments" ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "State Street", "name_as_filed": "STATE STREET", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/pantheon-san-francisco-ca-153425.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 2, "fewer_than_5": false, "raum": 6251134271.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 139, "fewer_than_5": false, "raum": 46021256447.0 }, { "type": "pension_profit_sharing", "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)", "count": 11, "fewer_than_5": false, "raum": 22657964982.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 1, "fewer_than_5": true, "raum": 11693668830.0 }, { "type": "state_municipal", "label": "State or municipal government entities (including government pension plans)", "count": 3, "fewer_than_5": true, "raum": 1050585599.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 1, "fewer_than_5": true, "raum": 13967073.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/153425", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }