Pomona nears target for Fund VIII

The firm has collected more than $1.1bn toward a $1.3bn target for its eighth secondaries fund, which launched in 2012.

Pomona Capital has collected about $1.14 billion for its eighth secondaries fund that is targeting $1.3 billion, according to documents filed with the US Securities and Exchange Commission (SEC). 

Pomona Capital declined to comment.

The firm launched Fund VIII in 2012 and is working with a number of placement agents to assist with fundraising in specific territories. Groups that will receive compensation for Fund VIII listed in the SEC documents include UBS, Larrain Vial Investment in Chile, KB Investment and Securities in South Korea and Vantage Capital Markets in Hong Kong. Limited partners in Fund VIII include the Chicago Fireman Annuity & Benefit Fund and Colombian pension fund Colfondos SA, according to Private Equity International’s Research and Analytics division. 

Pomona closed its seventh secondaries fund on $1.3 billion in 2009.

Pomona’s secondaries business manages $4.4 billion in committed capital across its eight funds, according to its website. The secondaries division buys interests in private equity funds and makes direct secondary portfolio purchases. Last year, the firm purchased a portfolio of LP commitments from its parent company ING for about $722 million.

Pomona was founded in 1994 and manages about $6.9 billion across its secondaries, fund of funds and co-investment vehicles. The firm has purchased primary and secondary interests managed by groups including Bain Capital, Clayton Dubilier & Rice, Providence Equity Partners, Silver Lake and Warburg Pincus, among others.