Now the New York-based manager of secondary funds and funds of funds has made its latest move, hiring Lorraine Hliboki as partner and director, co-investments. Hliboki spent the last 15 years with General Electric as a senior managing director finding and structuring private equity transactions for the GE Equity division.
Landing Hliboki was a coup, since as a GE veteran she has a strong business-building background, as opposed to a transactional background, said Pomona Capital founder Michael Granoff. Her experience will come in handy in helping Pomona Capital pick the best portfolio companies to back.
Pomona Capital started business in 1994 as a secondaries investor, then branched into fund of funds. It owns partnership interests in more than 400 private equity funds, including ones managed by The
Pomona Capital seeks to co-invest $10 million to $15 million in transactions through its $150 million co-investment vehicle,
Besides the returns generated by co-investments, Pomona Capital also gets to learn a great deal about general partners by working with them on deals, said Granoff. “I think we’ve definitely learned things as a result of this process which would make us more or less likely to give people money,” he said.
In related news, Pomona Capital is nearly finished investing secondaries fund