Expanding Advisors’ Access to Private
Equity
Pomona Capital, a global private equity firm specializing in
secondaries investing, along with Voya Investment Management, the
asset management business of Voya Financial, Inc. (“Voya”),
announced today it has expanded its partnership with iCapital1, a
leading global fintech platform driving access and efficiency in
alternative investing, with the addition of the Pomona Investment
Fund (“PIF” or the “Fund”) to the iCapital Marketplace.
iCapital Marketplace makes it even easier for investors to
access the Fund. PIF, distributed by Voya, is a U.S. registered
investment company designed to offer accredited investors a single
access point to a broad and diversified portfolio of private equity
investments.
A majority of PIF’s investments are in secondary interests and,
like Pomona Capital's traditional institutional private equity
offerings, it is focused on long-term capital appreciation with
enhanced liquidity and a lower risk profile. For a copy of the
Fund's prospectus and performance information, visit
www.pomonainvestmentfund.com.
“Providing easier access to private equity was our goal when we
designed and launched Pomona Investment Fund in 2015,” said Michael
Granoff, CEO and Founder of Pomona Capital. “We are excited to
expand our partnership with iCapital and provide wealth managers
and their clients access to PIF through Marketplace, a more
streamlined and efficient solution.”
The iCapital Marketplace connects financial advisors and their
clients with a broad array of alternative investment offerings by
providing an “all-digital” experience to wealth managers. It aims
to bridge the structural divide that has historically prevented
advisors from making alternative investments accessible to their
clients. The Marketplace features educational tools, such as market
insights, webinars, and training modules, while the document center
and investment dashboard provides a holistic view of client
investments throughout the investment lifecycle.
“Investors have realized that alternatives within their
portfolios are more important than ever in order to meet their
investment goals. Increasing investor access to strategies, such as
PIF, not only helps ‘democratize’ the range of investable
strategies available but can potentially lead to better long-term
results to meet financial objectives,” said Jake Tuzza, Senior
Managing Director and Head of Distribution at Voya Investment
Management.
Pomona Capital is one of the earliest pioneers in the secondary
space with nearly 30 years of experience providing efficient
liquidity solutions for investors needing to sell their private
equity interests. Investors traditionally have accessed Pomona’s
strategy through its flagship limited partnership vehicles. Through
the launch of PIF, Pomona became one of the first fund managers to
provide accredited investors with easier access to private equity
opportunities by designing a vehicle requiring a lower commitment
minimum of $25,000 and an investor-friendly tax reporting
structure. Today, PIF has approximately $1.4 billion in assets
under management with over 9,000 individual investors.
A webinar for financial advisors working with accredited
investors regarding accessing PIF on iCapital Marketplace will be
held on November 29, 2023, at 4:00 p.m. ET. For details, please
contact Voya Investment Management at
PomonaInvestmentFund@Voya.com.
Past performance is no guarantee of future results.
Investment return and principal value will fluctuate, and shares,
when redeemed, may be worth more or less than their original cost.
Current performance may be lower or higher than the performance
data quoted. Returns greater than one year are annualized.
Voya Investments Distributor, LLC, 230 Park Ave, New York, NY
10169
About Voya Investment Management
Voya Investment Management (“Voya IM”) is the asset management
business of Voya Financial, Inc. (NYSE: VOYA) and manages
approximately $312 billion as of September 30, 2023 in assets
across public and private fixed income, equities, multi-asset
solutions and alternative strategies for institutions, financial
intermediaries and individual investors, drawing on a 50-year
legacy of active investing and the expertise of 300+ investment
professionals. Named a Best Place to Work in Money Management by
Pensions & Investments for eight consecutive years, Voya IM has
cultivated a culture grounded in a commitment to understanding and
anticipating clients’ needs, producing strong investment
performance, and embedding diversity, equity and inclusion in its
business.
About Pomona Capital
Pomona is an international private equity firm with over $17.4
billion in aggregate capital commitments as of November 1, 2023
across its sponsored-funds and separate accounts on behalf of a
global group of over 350 sophisticated investors from more than 25
countries. Pomona was founded in 1994 and was one of the earliest
secondary market investors, establishing itself as a pioneer in the
marketplace. Pomona also manages a $6 billion business making
primary investments in private equity funds as a strategic
complement to the secondaries business. Pomona has collectively
invested in partnership interests in approximately 750 private
equity funds, diversified across the spectrum of private
equity.
Principal Risks
An investment in the Fund involves a considerable amount of
risk. A Shareholder may lose money. Before making an investment
decision, a prospective investor should (i) consider the
suitability of this investment with respect to the investor’s
investment objectives and personal situation and (ii) consider
factors such as the investor’s personal net worth, income, age,
risk tolerance, and liquidity needs. The Fund is an illiquid
investment. Shareholders have no right to require the Fund to
redeem their Shares in the Fund and, as discussed in the Fund’s
prospectus, the Fund conducts tender offers subject to the
discretion of the Board of Trustees. Therefore, before investing
investors should carefully read the Fund’s prospectus and consider
carefully the risks that they assume when they invest in the Fund’s
common shares.
An investor should consider the investment objectives, risks,
charges and expenses of the Fund(s) carefully before investing. For
a free copy of the Fund's prospectus, or summary prospectus, which
contains this and other information, visit us at
www.pomonainvestmentfund.com or call (800) 992-0180. Please read
the prospectus carefully before investing.
Past performance is no guarantee of future results.
Investment Risk
An investment in the Fund involves a high degree of risk,
including the risk that the Shareholder’s entire investment may be
lost. The Fund’s performance depends upon the Adviser’s selection
of Investment Funds and direct investments in operating companies,
the allocation of offering proceeds thereto, and the performance of
the Investment Funds, direct investments, and other assets. The
Investment Funds’ investment activities and investments in
operating companies involve the risks associated with private
equity investments generally. Unexpected volatility or lack of
liquidity, such as the general market conditions that prevailed in
2008, could impair the Fund’s performance and result in its
suffering losses.
The value of the Fund’s total net assets is expected to
fluctuate. To the extent that the Fund’s portfolio is concentrated
in securities of a single issuer or issuers in a single sector, the
investment risk may be increased. The Fund’s or an Investment
Fund’s use of leverage is likely to cause the Fund’s average net
assets to appreciate or depreciate at a greater rate than if
leverage were not used.
Closed-End Fund; Liquidity Risks. The Fund is a
non-diversified closed-end management investment company designed
principally for long-term investors and is not intended to be a
trading vehicle. An investor should not invest in the Fund if the
investor needs a liquid investment.
General Risks of Secondary Investments. There is no
established market for secondaries and the Adviser does not
currently expect a liquid market to develop. Moreover, the market
for secondaries has been evolving and is likely to continue to
evolve. It is possible that competition for appropriate investment
opportunities may increase, thus reducing the number and
attractiveness of investment opportunities available to the Fund
and adversely affecting the terms upon which investments can be
made. Accordingly, there can be no assurance that the Fund will be
able to identify sufficient investment opportunities or that it
will be able to acquire sufficient secondaries on attractive
terms.
The Fund may also be subject to the following risks: Limited
Operating History Risk, Nature of Portfolio Companies Risk,
Co-Investment Risk, Leverage Utilized by the Fund Risk, Leverage
Utilized by Investment Funds Risk, Investments in Non-Voting
Stock/Inability to Vote Risk, Valuation of Fund’s Interests in
Investment Funds Risk, Valuations Subject to Adjustment Risk,
Illiquidity of Investment Fund Interests Risk, Repurchase Risk,
Expedited Decision-Making Risk, Availability of Investment
Opportunities Risk, Special Situations and Distressed Investments
Risk, Mezzanine Investments Risk, Small- and Medium-Capitalization
Companies Risk, Utilities Sector Risk, Infrastructure Sector Risk,
Technology Sector Risk, Financial Sector Risk, Geographic
Concentration Risk, Sector Concentration Risk, Currency Risk,
Venture Capital Risk, Real Estate Investments Risk, Substantial
Fees and Expenses Risk, Foreign Portfolio Companies Risk, Non-U.S.
Securities Risk, Structured Finance Securities Risk, Capital Calls
/ Commitment Strategy Risk, ETF Risk, Unspecified Investments
Dependence on the Adviser Risk, Indemnification of Investment Funds
/ Investment Managers and Others Risk, Termination of the Fund’s
Interest in an Investment Fund Risk, Other Registered Investment
Companies Risk, High Yield Securities and Distressed Securities
Risk, Reverse Repurchase Agreements Risk, Other Instruments and
Future Developments Risk, Dilution Risk, Incentive Allocation
Arrangements Risk, Control Positions Risk, Inadequate Return Risk,
Inside Information Risk, Possible Exclusion of a Shareholder Based
on Certain Detrimental Effects Risk, Limitation on Transfer /
Shares Not Listed / No Market for Shares Risk, Recourse to the
Fund’s Assets Risk, Non-Diversified Status Risk, Special Tax Risk,
Additional Tax Considerations / Distributions to Shareholders and
Payment of Tax Liability Risk, Current Interest Rate Environment
Risk and Regulatory Change Risk. For a complete listing of all the
Fund’s risks, with their descriptions, please refer to the “Types
of Investments and Related Risks” section of the Fund’s
prospectus.
VOYA-IM
1 Institutional Capital Network, Inc. and its affiliates
(together, “iCapital Network” or “iCapital”)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231128580181/en/
Media Contact: Kristopher Kagel (212) 309-6568
Kristopher.kagel@voya.com
Voya Financial (NYSE:VOYA)
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