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Pomona Capital closes seventh secondaries fund with USD1.3bn

Pomona Capital, a global private equity firm, has held the final closing of its seventh secondaries fund, Pomona Capital VII, with commitments of USD1.3bn.

Pomona Capital, a global private equity firm, has held the final closing of its seventh secondaries fund, Pomona Capital VII, with commitments of USD1.3bn.

The fund had an original target of USD1bn and was substantially oversubscribed.

Pomona Capital VII, like its predecessor funds, will purchase interests in high-quality buyout and venture capital funds, as well as portfolios of private equity-backed companies, from investors who desire liquidity.

"Over the years, Pomona has executed a differentiated middle-market value strategy in the secondaries business," says Pomona chief executive Michael Granoff (pictured). "Our approach resonates with investors who recognize the long-term attractiveness of private equity but are concerned about risk."

Pomona believes the macroeconomic and private equity environments are combining to create an unprecedented opportunity in the secondaries market. Deal flow, asset choice and pricing power have increased substantially as limited partners of all types seek liquidity. At the same time, economic conditions make understanding the real value of private equity backed companies as challenging as ever.

"Pomona’s focus on limiting risks, purchasing seasoned, diverse assets, and investing at a measured investment pace is well-suited to the current environment," says Granoff.

Limited partners participating in the fund include US, European and Asian public and corporate pension funds, financial institutions, corporations, endowments, foundations and family offices.

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