Pomona Closes 8th PE Secondaries Fund At $1.75B

Apr 15 2014 | 2:04pm ET

Global private equity firm Pomona Capital beat its target and staged the final close of its eighth secondaries fund with commitments of $1.75 billion.

Pomona Capital VIII had targeted $1.3 billion and was substantially oversubscribed, hitting its hard cap.

Like its predecessors, the fund seeks to purchase interests in high-quality private equity funds, as well as portfolios of private equity-backed companies. Pomona is a secondary market pioneer, with 20 years' experience helping investors rebalance, reduce, or re-deploy assets within their private portfolios.

"Over the years, Pomona has executed a differentiated middle-market value strategy in the secondaries business," said Pomona CEO Michael Granoff in a statement. "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. Pomona said strong support from existing investors was complemented by a significant number of new investors from across the globe.

Founded in 1994, Pomona Capital is an international private equity firm that has approximately $8.5 billion in capital commitments across a series of secondaries, primaries and co-investment strategies from a global group of 250 sophisticated investors.

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