Pomona Capital‘s head of European operations has left the firm to lead ICG’s listed vehicle.
London-based Oliver Gardey will join the unit’s investment team in the autumn, according to a statement. He replaces Emma Osborne, who will remain on the investment committee and will move to a senior advisor role by the end of the year.
“I look forward to helping ICG build on its success and work with the team to build on the company’s impressive short, medium and long-term returns,” Garvey said in the statement.
Partner Sebastien Bowden, who joined Pomona in 2010 and who focuses on secondaries investment analysis and deal sourcing in Europe, will take over as European head, a spokeswoman for Pomona confirmed to Secondaries Investor.
“We are grateful for Oliver’s contributions to Pomona, and look forward to collaborating with him in the years to come,” the spokeswoman said.
Gardey joined Pomona in 2009 and has more than two decades of private equity experience, according to his previous profile on Pomona’s website. Prior to joining the firm, he was a partner at both Adams Street Partners, where he was global co-head of its secondaries business, and a partner at Rothschild’s Five Arrows Capital unit, according to the statement.
ICG acquired the London-listed fund investment business of Graphite Capital in 2016 for around £20 million ($24.8 million; €22.3 million). Initially, the unit focused on investing in Graphite Capital’s own funds and expanded to include other private equity funds in the UK and the rest of Europe.
Third-party secondaries investments accounted for 5 percent of the unit’s £703 million portfolio as of 31 January, according to its latest quarterly update.