Global private equity firm Pomona Capital has held a final close of its eighth secondaries fund, Pomona Capital VIII, LP with commitments of $1.75 billion. The new fund had a target of $1.3 billion and was substantially oversubscribed, hitting its hard cap. Pomona Capital VIII, like its predecessor funds, will purchase interests in private equity funds, as well as portfolios of private equity-backed companies.
“Over the years, Pomona has executed a differentiated middle-market value strategy in the secondaries business,” said Pomona CEO Michael Granoff. “Our approach resonates with investors who recognize the long-term attractiveness of private equity but are concerned about risk.”
Limited partners participating in the fund include pension funds, sovereigns, financial institutions, endowments, foundations, and family offices from over 25 countries. Support from existing investors was complemented by a significant number of new investors from across the globe.
Today’s macroeconomic and private equity environments create interesting, and also challenging, opportunities in the secondaries market. “Pomona’s focus on purchasing high-quality, mature, diverse assets at compelling prices is well-suited to the current environment,” said Mr. Granoff.
Pomona Capital is an international private equity firm with approximately $8.5 billion in capital commitments across a series of secondaries, primaries and co-investment strategies. Pomona has invested in partnership interests in over 500 private equity funds with investments in 5,000+ companies. The firm was founded in 1994 and is based in New York, London, Hong Kong, and Sydney (www.pomonacapital.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-15-14