Pomona Capital‘s secondaries-focused vehicle aimed at high-net-worth retail investors acquired $15 million worth of stakes in the second half of last year, the largest of which is in a private debt-focused fund.
Pomona Investment Fund picked up interests including a $6.2 million stake in Audax Mezzanine Fund III, a 2011-vintage $1 billion fund run by Boston-headquartered Audax Group, according to a regulatory filing with the US Securities and Exchange Commission.
The stake in the Audax vehicle, which invests in the junior debt of mid-market companies, is now the largest single fund exposure in its portfolio.
The filing from 1 March shows secondaries private equity interests account for 77 percent of the fund’s assets, up from 60 percent as of 30 June. The figure was 40 percent of the fund’s portfolio as of 30 June 2015.
The fund also acquired a $2 million position in Bain Capital Europe Fund III, a 2008-vintage €3.5 billion Europe-focused buyout fund; a $1.8 million stake in Silver Lake Partners II, a 2004-vintage $3.6 billion vehicle by the Californian technology-focused firm; and a $1.5 million interest in Providence Equity Partners VI, a 2007-vintage $12.1 billion buyout vehicle.
Pomona Investment Fund was established in 2015 to provide retail investors with exposure to private equity funds. The fund requires a $25,000 minimum subscription requirement and it also has the ability to make primary and direct commitments.