W H Y P R I V A T E E Q U I T Y
An alternative investment to diversify portfolios
Private equity investments offer the potential for
P O R T F O L I O
Private equity offers attractive long-term return potential
I N V E S T M E N T I N T H E C O R E
Private companies represent 99% of corporate investment opportunities in the United States*
A N A C T I V E A N D G R O W I N G
Private equity secondaries may offer added benefits such as greater flexibility, discounted pricing and faster distribution
The Pomona Investment Fund (PIF) offers a simple way for individual investors
to access private equity markets, primarily through secondary investments.
E X P E R T D I S C U S S I O N
Pathway to Private Market Secondaries:
What? Why? And how?
Please join an interactive conversation on private markets today
and why now may be a good time to consider the asset class.
October 20, 2023 1:00 PM ET | 60 minutes
C L I E N T E D U C A T I O N
Insights and resources
Use these insights to start or support ongoing conversations with your clients.
Private equity has become an increasingly viable option for many individual investors seeking to diversify their portfolios and mitigate volatility.
Private equity has traditionally been dominated by large institutions, but is gaining ground in individual investor portfolios
Our insight. Your advantage.
Pomona Capital, part of the Voya Investment Management family, has been delivering private equity solutions to investors since 1994.
A C O N S I S T E N T A P P R O A C H
Investments designed to endure in changing and complex environments
A L I G N E D I N T E R E S T S
Experience, reliability and consistency make us an effective partner
D E D I C A T E D C O L L A B O R A T I O N
Built on strong relationships, where reputation and integrity count
Experts in your corner
An investor should consider the investment objectives, risks, charges and expenses of the Fund(s) carefully before investing. Click here for a copy of the Fund’s prospectus which contains this and other information, or call (800) 334-3444. Please read prospectus carefully before investing and 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.
* Source: Estimated number of companies based on most recent common available data. Public companies: McKinsey & Co., “Reports of corporates’ demise have been greatly exaggerated”, 10/21/21. Private companies: Kaiser Family Foundation (kff.org), State Health Facts, 2020. Private company examples: Pomona Capital.
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.
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.
Past performance is no guarantee of future results.
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