Pomona Investment Fund Makes its First Investment
NEW YORK, Oct. 20, 2015 /PRNewswire/ -- Pomona Investment Fund, the recently launched registered fund that enables qualified high-net-worth investors to invest primarily in a broad range of private equity assets, has purchased a $25 million portfolio in the secondary market of diversified private equity interests across 17 underlying funds and nine general partners, with over 300 underlying companies, from a U.S. endowment.
For more information on Pomona Investment Fund, which is managed by Pomona Capital and is distributed by Voya Investments Distributor, LLC, please visit investments.voya.com/Pomona.
With a $25,000 minimum subscription requirement, and an investor friendly tax reporting structure, the Fund is designed to provide accredited investors with easier access to private equity opportunities. With this purchase, the Fund's shareholders will have exposure to mature, seasoned private equity positions in private equity managers with established track records.
"Pomona Investment Fund provides a mix of asset types across a number of sectors including traditional buyout, growth equity and credit. This creates a complimentary mix of assets that seeks near-term expected cash flow and longer-term growth," said Michael Granoff, CEO of Pomona Capital. "For investors, this Fund offers the opportunity for diversified exposure to private equity, with the potential to mitigate the typical private equity j-curve and minimize blind pool capital risk."
The majority of the Fund's investments are planned for secondary interests in seasoned private equity funds, with a complementary focus on primary and direct commitments. Similar to Pomona Capital's institutional offerings, the Fund's strategy seeks the long-term capital appreciation associated with private equity with a lower risk profile.
"Pomona Investment Fund, one of the first '33 and '40 Act registered private equity funds, is available on a number of investment platforms," said Ryan Levitt, the Fund's portfolio manager.
Pomona Capital, a global private equity firm founded in 1994 with $8.1 billion in capital commitments across its sponsored-funds and separate accounts, is the private equity platform for Voya Investment Management.
About Pomona Investment Fund
Pomona Investment Fund, or PIF, is a closed-end fund that targets accredited investors, including high net worth individuals, and requires a minimum initial investment of $25,000, which is significantly lower than the $5+ million minimum investment that typical private equity funds require. PIF seeks to execute a strategy of investing primarily in secondary interests in private equity funds with a focus on mature, high-quality assets at attractive prices, diversified by sector, industry and geography. New York-based Pomona Capital is the investment adviser for PIF. Pomona Investment Fund is registered under the Securities Act of 1933 and the Investment Company Act of 1940.
About Pomona Capital
Pomona Capital is a global private equity firm that has $8.1 billion in capital commitments across its sponsored-funds and separate accounts since being founded in 1994. Pomona manages a series of secondary, primary and co-investment strategies for a global group of over 350 sophisticated investors.
Pomona Capital has invested in partnership interests in more than 600 private equity funds, diversified across the spectrum of private equity, with investments in 5,500+ companies. Pomona Capital's team is based in New York, London and Hong Kong. Pomona's capital capacity and global reach are enhanced by a strategic partnership with Voya Investment Management.
About Voya Investment Management
A leading, active asset management firm, Voya Investment Management manages, as of June 31, 2015, more than $205 billion for affiliated and external institutions as well as individual investors. With 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.
About Voya Financial®
Voya Financial, Inc. (NYSE: VOYA), is composed of premier retirement, investment and insurance companies serving the financial needs of approximately 13 million individual and institutional customers in the United States. The company's vision is to be America's Retirement Company™ and its guiding principle is centered on solving the most daunting financial challenge facing Americans today — retirement readiness. Working directly with clients and through a broad group of financial intermediaries, independent producers, affiliated advisors and dedicated sales specialists, Voya provides a comprehensive portfolio of asset accumulation, asset protection and asset distribution products and services. With a dedicated workforce of approximately 6,500 employees, Voya is grounded in a clear mission to make a secure financial future possible — one person, one family, one institution at a time. For more information, visit voya.com or view our Voya Financial Interactive Company Profile. Follow Voya Financial on Facebook and Twitter @Voya.
An investor should consider the investment objectives, risks, charges and expenses of the Fund(s) carefully before investing. For a free copy of the Fund's prospectus visit us at www.voyainvestments.com or call (800) 992-0180. Please read all materials carefully before investing.
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