Pantheon has raised $1bn (€943bn) to invest in infrastructure funds, including on the secondary market.

The investment manager said the fund was oversubscribed and was double the size of its 2009 programme.

As well as secondary transactions, the fund will invest in new funds and co-investments.

Investors include a mix of new and existing global institutional investors.

Kathryn Leaf Wilmes, Pantheon’s global head of infrastructure and real assets, said the fund had generated ”strong interest from new geographic markets”, with investors from Asia backing the fund alongside “robust demand from North America and Europe”.

Pantheon said it has invested capital in seven transactions, worth 19% of the fund’s capital and has three other transactions close to completion.

Pantheon has appointed Evan Corley, a principal in Pantheon’s investment team, as head of natural resources, a new role in its global infrastructure and real assets team.