Firms & Funds

Pomona Capital nears end of marketing on Fund VIII

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• Firm has about $1.4 bln in commitments

• Target was $1.3 bln

• Hard cap on Fund VIII is $1.75 bln

Pomona Capital’s fundraising for its eighth secondary fund appears to be coming to an end, sister news service peHUB reported.

The firm has collected about $1.4 billion in commitments, beyond its $1.3 billion target, according to a person with knowledge of the fundraising. It’s not clear what the final tally will be, but could end up around $1.5 billion to $1.6 billion, the person said. The hard cap on Fund VIII is $1.75 billion.

Fundraising could finish this quarter, the person said. Pomona held a first close on Fund VIII in October 2012. The firm declined to comment about fundraising.

Fund VIII has begun deploying capital. Pomona made an early investment from Fund VIII, buying a portfolio of LP commitments from its parent company, ING.

The LP stakes were sold at a discount to net asset value, Private Equity International reported last year. The deal gave investors an immediate view into the assets in Fund VIII, removing some of the “blind pool” aspects of the fund.

Pomona closed its seventh fund on $1.3 billion in 2009.

Chris Witkowsky is editor of peHUB