London’s Pantheon has made a killing investing alongside the likes of Allegro Funds, Pacific Equity Partners and TPG Capital in buyouts of Australian companies. Now, it’s ready to test its pitch of picking the best global mid-market deals with a fund tailored for local investors.

The $US67 billion ($103.7 billion) private capital player has given Sydney’s Longreach Capital the green light to raise an Australian fund that would feed into its Luxembourg-domiciled Pantheon Global Private Equity. That fund is a successor to an older $US4.1 billion ($6.4 billion) strategy that has delivered 16.15 per cent per annum over the past five years and 13.69 per cent since inception in 2014.