The asset management arm of Dutch bank ING and fund of funds Pomona Capital have set up a joint fund of funds, ING Pomona Asia. The company could not disclose the planned size of the fund.
The platform, based in Hong Kong, has also appointed Dandan Liu chief investment officer as its first appointment of a senior member of staff. Liu will report to New York-based Michael Granoff, chief executive of Pomona Capital, with Nick Toovey, regional head of equity at ING Investment Management taking responsibility for local administration.
Chris Ryan, regional chief executive of ING IM, said Liu has ten years’ experience in the private equity fund of funds business and would enable the fund of funds to establish itself as a major market player.
Before joining ING IM, Liu was working at Pantheon Capital in Hong Kong. She is fluent in Mandarin and English, and proficient in Japanese.
ING IM’s fund of funds business in Asia Pacific has $370 million (€268 million)under management.
Pomona Capital has $4 billion committed to its funds of funds.