Pomona Investment Fund

Data through 2026-03-31 · latest filing SC TO-I filed 2026-06-22

Sponsored by Pomona Capital. Tender-Offer Fund structure focused on private equity.

Tender-Offer FundPrivate Equity

Sponsor: Pomona Capital
CIK: 0001616203
Liquidity: Quarterly tender offers
Inception: 2015

Net assets: $1.75B

source

Monthly portfolio report (Form N-PORT) · filed 2026-06-01 · period 2026-03-31

Net assets (N-PORT Part B, Item B.2)

Method Direct: read from a structured filing field

Open the filing on SEC.gov · Full observation history

Technical locator

NPORT-P netAssets | https://www.sec.gov/Archives/edgar/data/1616203/000161620326000008/xslFormNPORT-P_X01/primary_doc.xml
NAV / share: $16.19

source

Shareholder report (Form N-CSR) · filed 2026-06-09 · period 2026-03-31

per-class NAV list (V5-LIST)

“Net asset value per share: Class A Shares $ 15.06 Class I Shares $ 16.19 ”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1616203/000139834426010628/fp0098286-1_ncsr.htm | per-class NAV list (V5-LIST)
Net flows, last qtr: -4.6%
Distribution coverage: Not reported
Leverage in use: Unlevered
Total return, 12m: Pending

01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

Yellow flag

NAV per share fell 4.4% from $16.94 to $16.19 (2026-03-31).

NAV per share fell 4.4% from $16.94 to $16.19 (2026-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Why it matters and what changed

Private-market NAVs move slowly by construction, so a 2%+ single-month markdown is a genuine valuation event, not noise.

16.94 -> 16.19 (down 4.4% vs prior period); trailing 4-period average 16.43; same period prior year 16.13; comparison interval: ~6 months (2025-09-30 -> 2026-03-31; this fund's series is observed at that frequency, so 'month over month' rules compare consecutive observations)

Source: https://www.sec.gov/Archives/edgar/data/1616203/000139834426010628/fp0098286-1_ncsr.htm | per-class NAV list (V5-LIST)

Yellow flag

Net outflow of 5.6% of NAV in the period ended 2026-03-31.

Net outflow of 5.6% of NAV in the period ended 2026-03-31. (Rule B6: Single-period outflow at gate scale: net outflow >= 5% of NAV in one period; Notify.)

Why it matters and what changed

Net outflows in a single period reached the scale of a typical quarterly repurchase cap. Demand for the exit is at or beyond what the fund's liquidity program is designed to handle.

swung from 0.42 to -5.60 vs prior period; trailing 4-period average -1.65; same period prior year -3.02

Source: derived: net_flows / total_net_assets (parent equity) (nearest prior instant value) * 100

Historical findings (6)

NAV per share fell 5.1% from $15.41 to $14.62 (2022-09-30).
NAV per share fell 5.1% from $15.41 to $14.62 (2022-09-30). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 6.6% from $16.50 to $15.41 (2022-03-31).
NAV per share fell 6.6% from $16.50 to $15.41 (2022-03-31). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 14.9% from $11.00 to $9.36 (2020-03-31).
NAV per share fell 14.9% from $11.00 to $9.36 (2020-03-31). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 9.5% from $11.45 to $10.36 (2019-03-31).
NAV per share fell 9.5% from $11.45 to $10.36 (2019-03-31). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share fell 2.1% from $16.47 to $16.13 (2025-03-31).
NAV per share fell 2.1% from $16.47 to $16.13 (2025-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

NAV per share fell 4.7% from $10.95 to $10.44 (2018-03-31).
NAV per share fell 4.7% from $10.95 to $10.44 (2018-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

02 / Trends

How the fund has moved.

Net asset value, total return, capital flows, and distribution coverage across the filing record.

NAV per share

Net capital flows, % of NAV

Filed performance

Window	Class	Basis	Return	Source
2025-04-01 to 2026-03-31 fiscal year · annualization not stated	Class I	at NAV Filed return footnote (b) Total Return based on net asset value per share.	+3.03%	SEC source 0001398344-26-010628 N-CSR filed 2026-06-09
2025-04-01 to 2025-09-30 semiannual · annualization not stated	Class I	at NAV Filed return footnote (a) Total Return based on net asset value per share.	+4.99%	SEC source 0001398344-25-021816 N-CSRS filed 2025-12-05
2024-04-01 to 2025-03-31 fiscal year · annualization not stated	Class I	at NAV Filed return footnote (c) Total Return based on net asset value per share.	+6.33%	SEC source 0001398344-25-011369 N-CSR filed 2025-06-05
2024-04-01 to 2024-09-30 semiannual · annualization not stated	Class I	at NAV Filed return footnote (c) Total Return based on net asset value per share.	+3.51%	SEC source 0001398344-24-022811 N-CSRS filed 2024-12-06
2023-04-01 to 2024-03-31 fiscal year · annualization not stated	Class I	at NAV Filed return footnote (c) Total Return based on net asset value per share.	+12.46%	SEC source 0001398344-24-011357 N-CSR filed 2024-06-06

Figures are reproduced from filed disclosures with their exact window, class, and stated basis. They are separate from the calculated NAV-plus-distributions index and from manager-source monthly returns.

Monthly performance eligibility

Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.

1y: Pending; 3y: Pending; 5y: Pending Manager-published observations remain distinct from SEC-filed facts and publish only after declared-crawler, robots, class, exact-window, and SEC-precedence gates pass.

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

Pending

04 / Redemptions

Where exit demand met the cap.

Stated cap: 5% of net assets/quarter. The disclosed history shows no rationed period.

Requested redemptions versus cap

Period	Requested	Filled	Cap used	Status
2026-06-15 quarter	Pending	100%	Pending	filled
2026-03-31	6.0% of net assets source Tender offer statement, amended (Schedule TO-I/A) · filed 2026-06-15 · period 2026-03-31 disclosed_dollar_demand / filed_total_net_assets * 100; numerator 0001398344-26-010821; denominator 0001616203-26-000008 “$104,916,634 in shares were validly tendered and not properly withdrawn prior to the expiration of the offer. The Fund has accepted for purchase 100% of the Shares that were validly tendered and not properly withdrawn prior to the expiration of the Offer, at a purchase price per Share equal to the net asset value per share as of March 31, 2026. The payments were wired to the account designated by each Shareholder in their Letter of Transmittal on April 27, 2026.” Why this source Both constituents are filed for the same fund and pass the recorded date, scale, and basis assertions. Method Derived: computed from other stored facts Open the filing on SEC.gov · Full observation history Technical locator {"assertions":{"basis":"nav","denominator_age_days":0,"max_staleness_days":120,"numerator_components":null,"same_fund":true,"same_scale":true},"denominator":{"accession":"0001616203-26-000008","locator":"https://www.sec.gov/Archives/edgar/data/1616203/000161620326000008/xslFormNPORT-P_X01/primary_doc.xml","name":"filed_total_net_assets","period_end":"2026-03-31","raw_snippet":null,"value":1752801987.15},"formula":"disclosed_dollar_demand / filed_total_net_assets * 100","kind":"derived_redemption_demand","metric":"redemptions_requested_pct_nav","numerator":{"accession":"0001398344-26-010821","locator":"https://www.sec.gov/Archives/edgar/data/1616203/000139834426010821/fp0099303-1_sctoia.htm","name":"disclosed_dollar_demand","period_end":"2026-03-31","raw_snippet":"$104,916,634 in shares were validly tendered and not properly withdrawn prior to the expiration of the offer. The Fund has accepted for purchase 100% of the Shares that were validly tendered and not properly withdrawn prior to the expiration of the Offer, at a purchase price per Share equal to the net asset value per share as of March 31, 2026. The payments were wired to the account designated by each Shareholder in their Letter of Transmittal on April 27, 2026.","value":104916634.0}} net assets formula Numerator: 104,916,634.00 as of 2026-03-31; SEC source 0001398344-26-010821 Denominator: 1,752,801,987.15 as of 2026-03-31; SEC source 0001616203-26-000008	Pending	Pending	Pending
2026-03-06 quarter	Pending	100%	Pending	filled
2025-12-19 quarter	Pending	100%	Pending	filled
2025-10-20 quarter	Pending	100%	Pending	filled
2025-07-21	Pending	100%	Pending	filled

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Pending

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

Not attributed 100.0%

Share of total net assets ($1,752,801,987) as of 2026-03-31; the hatched band is net assets the filings do not attribute to a captured class.

Class	Terms-based role description	Load	Servicing	Minimum	Assets
Class I	Pending	Pending	Pending	Pending	Pending

Management fee: 1.65% of quarter end nav per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001398344-26-010628.

Filed fee conditions

In consideration for these services, the Fund accrues the fee monthly and pays the Adviser a quarterly management fee of 0.4125% (1.65% on an annualized basis) of the Fund's quarter-end NAV, before any repurchases of Shares.

Canonical-class fee profile

Class	Management	Incentive	Load	Servicing	Gross expenses	Net expenses
Class I	1.65%	None * None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001104659-25-064668	Pending	Pending	2.32%filed basis * Filed label: Ratio of gross expenses to average Net Assets (c)(d); period 2026-03-31. gross expenses (explicit filing row); waiver state: before / excluding disclosed support. SEC source 0001398344-26-010628	2.32%filed basis * Filed label: Ratio of net expenses to average Net Assets (f); period 2026-03-31. After waiver: not separately stated; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001398344-26-010628

Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (1)

Term	Description	Value	Effective
advisory_fee_schedule	In consideration for these services, the Fund accrues the fee monthly and pays the Adviser a quarterly management fee of 0.4125% (1.65% on an annualized basis) of the Fund's quarter-end NAV, before any repurchases of Shares.	1.65 pct_annual_of_quarter_end_nav	Pending

Recent filings

Filed	Form	Accession
2026-06-22	SC TO-I	0001398344-26-011079
2026-06-15	SC TO-I/A	0001398344-26-010821
2026-06-09	N-CSR	0001398344-26-010628
2026-06-01	NPORT-P	0001616203-26-000008
2026-05-19	424B3	0001104659-26-063801
2026-03-20	SC TO-I	0001398344-26-005454
2026-03-06	SC TO-I/A	0001398344-26-004601
2026-02-27	NPORT-P	0001616203-26-000004
2025-12-19	SC TO-I/A	0001398344-25-022717
2025-12-19	SC TO-I	0001398344-25-022683
2025-12-05	N-CSRS	0001398344-25-021816
2025-12-01	NPORT-P	0001616203-25-000008
2025-09-22	SC TO-I	0001398344-25-018376
2025-08-29	NPORT-P	0001752724-25-212249
2025-08-22	SC TO-I/A	0001398344-25-016361