<article>Secondaries-focused private equity firm <a href="https://www.dealstreetasia.com/?s=Pomona%20Capital">Pomona Capital</a>, whose team is based in New York, London, and Hong Kong, has announced the final close of its ninth secondary fund at $1.8 billion, higher than its target of $1.75 billion.</article>

Secondaries-focused private equity firm <a href="https://www.dealstreetasia.com/?s=Pomona%20Capital">Pomona Capital</a>, whose team is based in New York, London, and Hong Kong, has announced the final close of its ninth secondary fund at $1.8 billion, higher than its target of $1.75 billion.
<a href="https://www.dealstreetasia.com/?s=Pomona%20Capital IX LP">Pomona Capital IX LP</a>, the firm&#8217;s ninth secondaries flagship fund, generated commitments from pension funds, sovereign wealth funds, financial institutions, endowments, foundations, and family offices from nearly 20 countries, according to an official statement.
The firm first closed its debut fund, Pomona Capital I LP in 1994 at $42 million. It last raised another fund, Pomona Capital VIII in 2012 with a total committed capital of $1.75 billion.
“Pomona Capital IX, like its eight predecessor funds, will execute a disciplined secondaries investing approach by seeking to buy high-quality assets at better than market prices,” said Pomona Founder &amp; CEO Michael Granoff.
Founded in 1994 and with approximately $10 billion aggregate capital commitments as of June 30, 2018, Pomona Capital claims to be one of the earliest pioneers in the secondary private equity investing space.
Pomona Capital said it has collectively invested in partnership interests in approximately 700 private equity funds, diversified across the spectrum of private equity, with underlying investments in over 8,500 companies since inception.
“We have raised funds sized in line with the market opportunity in order to allow us to be highly selective, avoid competition and focus on middle market-sized transactions,” the firm said on its website.
Its target portfolio is 50-100 per cent secondaries, up to 40 per cent primaries, and 20 per cent co-investments. Its website, however, does not provide a list of portfolio companies.
Early this year, the firm promoted its Chief Financial Officer, John Stephens, to Partner and CFO. Stephens joined Pomona in 2011 and led the Asia office for three years before becoming the firm&#8217;s chief financial officer in 2015.
Its Asia operations is headed by Managing Director Dan Kim, who joined the firm in 2015 with a focus on business development and deal sourcing in the region.
Kim was Head of Sales at Shinhan Investment Corp. in Hong Kong, where he founded the company’s placement business and was responsible for global private equity investments, before joining Pomona.
He was also an Executive Director in the Equities Division at Goldman Sachs, working both in Seoul and Tokyo.
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Secondaries-focused private equity firm Pomona Capital, whose team is based in New York, London, and Hong Kong, has announced the final close of its ninth secondary fund at $1.8 billion, higher than its target of $1.75 billion.

HK: Pomona Capital secures $1.8b for ninth secondaries fund

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HK: Pomona Capital secures $1.8b for ninth secondaries fund

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