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The deal makes the firm the largest shareholder in two formerly PE-backed distressed companies.
Caroline Steil as a senior legal advisor from law firm Jones Day and will advise on the firm's secondaries activities.
Pomona Investment Fund's acquisitions included a stake in an Audax Group mezzanine fund which became the vehicle’s largest single fund exposure.
The vehicle has increased its exposure to eight funds in total and has also broadened its strategy to target non-KKR-managed funds.
Bank loans used by GPs and backed by LP commitments could complicate stake sales processes, according to the veteran investor.
Secondaries stakes accounted for almost half of total assets of the vehicle, which invests mainly in funds managed by The Carlyle Group.
Secondaries buyers are bidding at a 4% difference for the two classes of funds, according to a report by Setter Capital.
The $2.4bn US pension wants to become a seller and buyer of private markets stakes.
The advisory firm has downgraded its rating for secondaries amid 'significant capital overhang'.
The deal includes stakes in Bridgepoint and Doughty Hanson-managed funds from a manager based in the southeast Asian city state that was the focus of a legal case.