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PRINT THIS PAGE Pomona Capital closes $821m fund14/09/2005. Source: AltAssets. 
 New York and London-based private equity investment firm Pomona Capital has closed its sixth secondary interest private equity fund, Pomona Capital VI, on $821m, well above its original $600m target. Fundraising started in October 2004.
Pomona Capital VI was able to admit only a select group of new investors. They include the State of Wisconsin and the State of Florida, according to Pomona Capital chief executive officer Michael Granoff.
Pomona Capital VI, like its predecessor funds, will purchase interests in buy-out and venture capital funds and direct secondary portfolios from limited partners who desire liquidity prior to the term of the partnership.
'Over the years, Pomona has executed a differentiated value strategy in the secondaries business,' said Granoff. 'That message and our track record resonated with investors concerned about market forces and valuation in the private equity industry today.'
Pomona Capital, founded in 1994, focuses on acquiring secondary and primary interests in venture capital and buy-out funds. About 75 per cent of its investments are in the US and about 25 per cent are outside the US, mainly in Europe. In recent years European buy-outs have become a much larger part of the firm's strategy.
Pomona Capital manages $3.4bn in six secondary and four primary interest funds of funds for a global group of investors. Pomona's capital capacity and global reach is enhanced by a strategic partnership with the ING Group.
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