Pomona Capital‘s secondaries-focused vehicle aimed at high-net-worth retail investors has appointed a head of business development.
Pomona Investment Fund, a 1940 Act registered investment vehicle, hired Bob Alderman to develop business opportunities with regional and national broker-dealers and advisory firms, according to a statement.
Prior to joining Pomona, Alderman worked at Gold Bullion International, which facilitates the purchase and safe storage of precious metals for investment purposes. He was responsible for business development and helping promote the firm’s precious metals offering to financial advisors and individual investors.
Alderman has previously has held senior alternatives roles at Merrill Lynch and Credit Suisse Asset Management.
Based in New York, Alderman will report to senior-vice president and head of private wealth and advisory Troy Chakarun.
Pomona Investment Fund has a $25,000 minimum investment, and seeks long-term capital appreciation by purchasing stakes in well-established private equity funds, according to marketing materials produced by Pomona. The fund closed four new transactions during the fourth quarter, acquiring positions in funds managed by Silver Lake Partners, Providence Equity Partners, Cerebrus Institutional Partners and Bain Capital, among others.
Between 50-100 percent of investments in the fund are invested in secondaries, and there is room for up to 20 percent for co-investments and up to 40 percent for primaries, depending on market conditions.
The fund’s first transaction, in November 2015, was the purchase of a $25 million portfolio of 17 fund stakes.