Pomonas new fund-of-funds

Pomona Capital, the global private equity firm, held a final close on its fourth primary fund of funds, Pomona Partnership Holdings IV. The closing at US$250m exceeded the target by US$200m. Pomona Partnership Holdings IV will purchase primary and selected secondary interests in top performing private equity funds.

“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%,” said Michael Granoff, Pomona Capital’s CEO. “Yet access to the best buyout and venture funds is becoming increasingly difficult.”

The fund has already made a number of commitments to funds including Providence V, Bain VIII, Hellman and Friedman V, BC Partners VIII, Sevin Rosen IX, NEA 11, and Northbridge VI.

“Virtually all of Pomona’s 2004 commitments were to funds that were closed to new investors, providing a very strong start for the fund,” Granoff said.

With offices in New York and London, Pomona manages over US$3bn in six secondary and four primary interest funds of funds. Its capital capacity is enhanced by a strategic partnership with the ING Group.