Pomona replaces European head

The fund of funds business has replaced Brian Wright, who left the business back in August 2008, with former Adams Street partner Oliver Gardey.

Pomona Capital, the New York-based fund of funds and secondaries investor, has hired Oliver Gardey, a former partner at private equity investor Adams Street, to head its European operations.

Pomona Capital has been without a European head since August last year, when European director and partner Brian Wright left the firm to pursue other interests.

Gardey joins Pomona having spent the last six years at Adams Street Partners. Prior to this he held positions at Smedvig Capital, a family office, NM Rothschild & Sons, the investment banking group, and Whitney & Co, a Connecticut-based private equity firm.

Pomona was founded in 1994 and invests in secondary fund interests, primary fund commitments and co-investments.  In 2007 the firm launched a joint venture Asia-focused fund of funds with the asset management arm of Dutch bank ING. The firm now has $6 billion under management according to its website.

The firm has locations in New York, London and Hong Kong and comprises 20 investment professionals.

Pomona was unavailable to comment at press time.