Pomona Capital has launched the Pomona Investment Fund, distributed by Voya Investments Distributor. With a USD25,000 minimum subscription requirement and an investor friendly tax reporting structure, the fund is designed to give accredited investors easier access to private equity investing.
Pomona Investment Fund seeks to offer broad exposure to a portfolio of private equity investments managed by experienced general partners. The majority of its investments are planned for secondary interests in seasoned private equity funds, with a supplementary focus on primary and direct commitments. Similar to Pomona's institutional fund offerings, the fund's strategy seeks the long-term capital appreciation associated with private equity with a lower risk profile.
"To date, liquidity and other structural and regulatory challenges have made it more difficult for individuals to gain exposure to alternative assets," says Michael Granoff, CEO of Pomona Capital. "The private equity industry in general is now evolving as we shift from a 'defined benefit' retirement universe to a 'defined contribution' construct and we think this fund and strategy provides an approach that may be appropriate for many investors. Furthermore, as an alternative investment, Pomona Investment Fund can complement and potentially improve the risk/reward characteristic of an investment portfolio with a user-friendly structure that provides transparency and investor safeguards."
Pomona is an early pioneer in the secondary private equity market with more than 20 years of experience in providing liquidity solutions to investors seeking to sell, reduce the number of, or re-deploy private equity assets within their private portfolios. By concentrating on secondary private equity, Pomona Investment Fund seeks to minimise the blind pool risk and the j-curve often associated with primary private equity investments.
Pomona Capital is the private equity platform for Voya Investment Management.
"We are excited to offer this new fund to financial advisors and their clients," says Jeff Becker, CEO of Voya Investment Management. "By providing access to private equity, primarily through secondary investments, Pomona Investment Fund offers clients investment opportunities not generally available through traditional asset classes."