Pomona Capital, the US-headquartered private equity fund-of-funds, has closed its fourth primary fund-of-funds, Pomona Partnership Holdings IV on US$250m (E206m.)
Exceeding its target by US$50m, the fund will buy primary and special secondary stakes in private equity funds. It has already made a number of investments in funds including Providence V, Bain VIII, Hellman and Friedman V, BC Partners VIII, Sevin Rosen IX, NEA 11, and Northbridge VI.
Michael Granoff, Pomona’s CEO, said: “Investors understand that they must invest with the highest quality funds in order to achieve meaningful performance in a world where the spread between top and bottom quartile private equity funds is over 50%. Yet access to the best buyout and venture funds is becoming increasingly difficult. The Pomona approach of deploying modest amounts of capital in a focused strategy is our way of minimizing the risk and maximizing the return in a complex private equity market.”