Pomona Capital closes $1.75 bln for eighth secondaries fund

Global private equity firm Pomona Capital has raised $1.75 billion in the final close of its eighth secondaries fund. The target was $1.3 billion.


NEW YORK, LONDON, HONG KONG and SYDNEY, April 14, 2014 /PRNewswire/ — Pomona Capital, a global private equity firm, announced the final close of its eighth secondaries fund, Pomona Capital VIII, L.P. (the “Fund”) with commitments of $1.75 billion. The Fund had a target of $1.3 billion and was substantially oversubscribed, hitting its hard cap.
Pomona Capital VIII, like its predecessor funds, seeks to purchase interests in high-quality private equity funds, as well as portfolios of private equity-backed companies. Pomona is an early pioneer in the secondary private equity market with a twenty year history of providing liquidity solutions to investors seeking to rebalance, reduce, or re-deploy assets within their private portfolios. The firm uses its global footprint to work with investors and assets across the world.
“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. Strong 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,” noted Mr. Granoff.
About Pomona Capital
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. Pomona Capital has invested in partnership interests in over 500 private equity funds, diversified across the entire spectrum of private equity, with investments in 5,000+ companies. Pomona Capital’s team is based in New York, London, Hong Kong, and Sydney. For more information on Pomona Capital, visit www.pomonacapital.com.