About Pomona
A Differentiated Private Equity Strategy Well Positioned for Today’s Challenges
Pomona Capital: Our insight. Your advantage.
A consistent approach
By clearly defining and always applying a disciplined strategy, our investments are designed to endure in changing and complex environments
Aligned interests
Experience, reliability and consistency make us an effective partner
Dedicated collaboration
A people business built on maintaining strong relationships, where reputation and integrity count
Leadership
Michael Granoff
CEO & Portfolio Manager
Michael founded Pomona Capital in 1994 and is responsible for strategic planning, capital and executive management. He has 31 years of private equity experience. Prior to founding Pomona, Mr. Granoff served as President of partnerships organized to purchase secondary interests in private equity funds and as a Director of a number of private companies engaged in health care, manufacturing, and financial services while President of Golodetz Ventures and Vice President of TEI Industries.
Prior to his business career, Mr. Granoff served on the staff of the U.S. House of Representatives Appropriations Subcommittee on Foreign Operations. He was a member of the 1992 Presidential Transition Team for the Department of the Treasury. Mr. Granoff was appointed by President Clinton to the Board of the Albanian-American Enterprise Fund, a U.S. government-sponsored private sector development initiative, where he serves as Chairman. He is also Chairman of the Albanian American Development Foundation, the largest non-profit organization in Albania. Mr. Granoff is a recipient of The Order of Skanderbeg Medal and The Order of Mother Teresa Medal from the President of Albania. Mr. Granoff is a member of the Council on Foreign Relations and is a Director of the Grameen Bank U.S. He has been a Guest Lecturer at the Harvard Business School and the Wharton School of Business. Mr. Granoff received a JD from Georgetown University and a BA from the University of Pennsylvania.
Frances N. Janis
Senior Partner & Portfolio Manager
Fran co-founded Pomona Capital in 1994 and leads investment decision-making in the secondaries, primary funds of funds and co-investment businesses. Fran has 32 years of private equity experience. Prior to joining Pomona, she was a general partner of Hambro International Equity Partners, a venture group that managed a series of domestic and offshore funds.
During her career, Fran served as a director of a number of private and public companies engaged in the telecommunications equipment, consumer products, software services, health care and specialty retailing industries. She received an MBA from Northeastern University, and a BS from the State University at New York (Albany). Fran is a member of the Board of Trustees of Northeastern University.
Lorraine Hliboki
Partner & Portfolio Manager
Lorraine joined Pomona Capital in 2007 and leads the firm's investment process. She has 21 years of private equity experience. Prior to joining Pomona Capital, Ms. Hliboki spent fifteen years at General Electric Company, most recently as a senior managing director at GE Equity. In that role, she was responsible for originating, structuring, negotiating, and underwriting private equity transactions in public and private companies.
Ms. Hliboki had both domestic and international responsibilities across many different industries. She also served on the board of directors of many private companies in the financial services, healthcare and services sectors. Previously, Ms. Hliboki spent three years as a senior financial analyst at Financial Guaranty Insurance Company, then a subsidiary of General Electric Company. Ms. Hliboki received an MBA from New York University and a BS from Fairfield University.
Bob Alderman
Head of Business Development
Bob Alderman is a registered representative of Voya Investments Distributor, LLC, the distributor of Pomona Investment Fund. Bob assists the Pomona team as Voya's Head of Business Development for Pomona Investment Fund. He has 30 years of experience in wealth management, alternative investments and asset management. Prior to assuming his current role, Bob was Executive Vice President and Head of Wealth Management for GBI, a precious metals offering for advisors and clients across all channels of wealth management and Head of Private Investments in the U.S. and Europe for the World Gold Council.
Before that, Bob ran retail distribution for Credit Suisse Asset Management, and was a Managing Director at Merrill Lynch, where he was the Global Head of Distribution and Marketing for the firm's Alternative Investments Group. During his 20 years at Merrill Lynch, Bob also served as the National Sales Manager for financial planning and was the National Marketing Manager for Merrill Lynch Asset Management. Bob earned his MBA from the Carroll School of Management at Boston College and has a BA from Clark University.
Randal Barton
SVP, Senior Regional Director - Private Equity Specialist
Randal Barton is a senior vice president, senior regional director and private equity specialist at Voya Investment Management.
Previously at Voya, he was a divisional sales manager. Prior to joining Voya, Randal worked for Transamerica Capital and Old Mutual Capital, developing and marketing mutual funds, separately managed accounts, and variable annuities. Prior to that, he was a CPA for Coopers & Lybrand in Southern California. Randal earned both master’s and bachelor’s degrees from Brigham Young University.
Michael Perkins, CIMA
SVP, Senior Regional Director - Private Equity Specialist
Mike Perkins is senior regional director, private equity specialist at Voya Investment Management, working with financial professionals to incorporate private equity strategies into portfolio construction. Mike serves as content ambassador for Voya Cares, an initiative to help financial advisors deliver planning solutions to individuals with disabilities and special needs. Mike is an accomplished public speaker and author. He has taught financial planning and investment concepts to the American Institute of Certified Public Accounts, United States Army, and Rotary International to name a few. Mike was also a contributing author on two books on financial planning and has published articles with Financial Planning, Registered Rep and life insurance selling magazines. Prior to joining Voya, he was a national sales and marketing director for H.D. Vest Financial Services. Mike earned a BBA in finance from Lamar University. He holds FINRA Series 4, 7, 24, 63 and 65 licenses in addition to the Certified Investment Management Analyst® certification.
Joaquin Balaguer, CAIA
VP, Senior Regional Director - Private Equity Specialist
Joaquin Balaguer is a senior regional director, private equity specialist at Voya Investment Management, responsible for promoting and supporting capital raise efforts for the Pomona Investment Fund (PIF) in the Southeast region. Prior to joining Voya, Joaquin held leadership positions with some of the largest capital market managers where he developed expertise in alternative investment assets such as private credit, private equity, real estate, and energy infrastructure. Joaquin received a BS in Finance from the University of Central Florida. He holds FINRA Series 7, 24, 55 and 63 licenses and is a CAIA® Charterholder.
Nick Newby
VP, Senior Regional Director - Private Equity Specialist
Nick Newby is a senior regional director, private equity specialist for Voya Investment Management, the distributor of the Pomona Investment Fund. In this role, Nick works with the Pomona team and financial professionals to incorporate private equity strategies into portfolio construction. Prior to joining Voya, he was the AVP, regional director alternatives at Angel Oak Capital specializing in private credit, structured credit and private real estate covering wirehouses, broker dealers and RIAs. Prior to that, he held roles in IT consulting and at Wells Fargo and American Equity Mortgage where he began his career in the financial services industry. Nick earned a BS with a dual major in accounting and business management at Georgia College & State University. He holds FINRA Series 7 and 63 licenses.
Performance data does not take into consideration account transaction fees or brokerage commissions. The NAV of the Fund will equal, unless otherwise noted, the value of the total assets of the Fund, less all of its liabilities, including accrued fees and expenses, each determined as of the relevant Valuation Date. Total Return based on net asset value per Share is the combination of changes in net asset value per Share and reinvested distributions at net asset value per Share, if any. These figures are net of all the Fund’s fees and expenses, including management and performance incentive fees or allocations payable pursuant to the respective organizational documents of each Investment Fund.
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, which contains this and other information, visit us at www.voyainvestments.com or call (800) 334-3444. Please read prospectus carefully before investing.
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 quarterly tender offers subject to Board approval. 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.
Investment Risk
An investment in the fund is speculative and 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 Fund’s shares will not be listed on any national exchange or other securities exchange and it is not anticipated that a secondary market will develop. Further, the fact that shares are subject to restrictions on transferability, and liquidity, if any, may be provided by the fund only through repurchase offers, which may, but are not required to, be made from time to time by the Fund. The Fund may conduct such repurchases on a quarterly basis as of the end of each calendar quarter subject to the Board’s discretion.
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 Private Equity Risks
The Fund is subject to those risks that are inherent in private equity investments. These risks are generally related to: (i) the ability of each Investment Fund to select and manage successful investment opportunities; (ii) the quality of the management of each company in which an Investment Fund invests; (iii) the ability of an Investment Fund to liquidate its investments; and (iv) general economic conditions. Securities of private equity funds, as well as the portfolio companies these funds invest in, tend to be more illiquid, and highly speculative.
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.
The Fund’s shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not insured by the FDIC, the Federal Reserve Board or any other government agency. You may lose money by investing in common shares of the Fund.
Standard Deviation
Is a statistical measure of volatility over time; a lower standard deviation indicates historically less volatility. Annualized Standard Deviation calculated using quarterly performance.
Index Descriptions
The MSCI World Index is a free float‐adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets. The MSCI World Index consists of the following 23 developed market country indexes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. (https://www.msci.com/world) The MSCI World Index has not been selected to represent an appropriate benchmark to compare an investor’s performance, but rather is shown as a comparison to that of a well-known and widely recognized index. The MSCI World Index is not subject to any of the fees and expenses to which any Pomona fund would be subject and no fund sponsored by Pomona Capital will attempt to replicate the performance of the MSCI World Index.
The Barclays US Aggregate Bond Index measures the performance of the US investment-grade bond market, which includes the following types of securities and typically only includes securities that have $250 million or more of outstanding face value and at least one year remaining to maturity: investment-grade US Treasury bonds, government-related bonds, investment-grade corporate bonds, mortgage pass-through securities, commercial mortgage-backed securities and asset-backed securities that are publicly offered for sale in the US.
Past performance is no guarantee of future results.
For more complete information, or to obtain a prospectus on any Voya fund, please contact your investment professional or Voya Investments Distributor, LLC at (800) 992-0180 . The prospectus should be read carefully before investing. Consider the investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this information and other information about the funds. Check with your investment professional to determine which funds are available for sale within their firm. Not all funds are available for sale at all firms.
© 2023 Voya Investment Management LLC. All rights reserved.