Pomona boosts London office

Mark McDonald has joined the secondaries specialist as an investment associate in Pomona Capital's London office to help expand its European franchise.

Pomona Capital, the New York-headquartered private equity fund investment house, has appointed Mark McDonald as investment associate in the firm’s London office.

Following four years of working for Barclays Capital on investment banking teams in the UK, Europe and Asia-Pacific, McDonald has spent the last three years working for an anglo-Italian consultancy firm, Venture Consult, which provides investment and strategic advice and services to private equity firms in Europe.

Commenting on the appointment, London-based director Brian Wright said: “Mark has joined during an exciting period of growth in Pomona’s European business. His remit will be to focus on the sourcing of secondary opportunities and analysis of deals inhouse.'

In March of this year, Pomona secured a $1.1 billion (€890 million) mandate to manage a portfolio of private equity assets on behalf of ING Investment Management Americas (IIM).

Under the deal, Pomona took over the management of US insurance group IIM's private equity fund investment programme, which comprises $600 million committed to 57 partnerships. As part of a strategic partnership, IIM’s parent ING Group is an investor in Pomona. 

IIM has instructed Pomona to invest another $500 million in a range of primary and secondary fund interests over the next five years.

The deal with IIM meant that Pomona almost doubled its assets under management to approximately $2.4 billion.

Pomona, founded in 1994, manages five secondary interest funds and three fund of funds for a group of US, European and Asian institutions and families. The firm now has a team of 18 across the two offices.