Pomona Investment Fund buys eight LP stakes

The closed-ended fund completed two secondaries deals in the fourth quarter and is now exposed to 27 underlying funds managed by 16 GPs.

Pomona Investment Fund bought eight LP interests in two secondaries transactions in the fourth quarter, according to New York-based Pomona Capital.

Terms of the transactions or details of the fund stakes were not disclosed.

The fund has made four transactions since it was incepted in May 2015. It comprises 100 percent secondaries interests and has exposure to 27 underlying funds managed by 16 general partners.

The fund is now approximately 90 percent committed with more than 400 underlying companies.

“The general partners of the acquired funds have a lengthy track record of success and many have a long-term relationship with Pomona Capital through prior secondaries and primary commitments,” Ryan Levitt, portfolio manager for the fund, said in a statement.

“Overall, the acquired portfolio is well diversified by fund, general partner and underlying portfolio company, with limited public exposure. We see significant runway for both future growth and liquidity across the 96 companies acquired in the two transactions.”

Pomona Investment Fund is a closed-ended fund targeting accredited investors that requires a $25,000 minimum subscription requirement, lower than the $5 million minimum investment that typical private equity funds require.