Pomona Capital closed its fourth fund, Pomona Capital IV, at $203 million, oversubscribed from its target of $175 million, said CEO Michael Granoff.
Investors include the pension fund and endowment of the Massachusetts Institute of Technology; Memorial Drive Trust, which is the profit-sharing and pension fund of Arthur D. Little Inc.; and the endowment of Syracuse University.
Pomona, with $475 million under management, buys secondary stakes in venture capital and leveraged buyout funds from limited partners that need liquidity before an official payout. A variety of institutional investors, including some public and corporate pension funds, have been selling their positions in funds, giving Pomona stakes in 55 funds, including those managed by Warburg Pincus and Blackstone Group
