iCapital and Voya Investment Management form partnership

By Edlyn Cardoza

Voya Investment Management, the asset management business of Voya Financial, Inc., recently announced that it has partnered with iCapital, a leading global FinTech platform driving access and efficiency in alternative investing for the asset and wealth management industries. Voya IM will leverage iCapital’s customized technology, service and diligence solution for financial advisors and their high-net-worth clients seeking access to Voya’s alternative and private fund offerings, starting with Pomona Investment Fund, a registered fund vehicle.

iCapital will digitize the subscription, administration, operational and reporting processes for PIF, which improves the efficiency of the investment process and helps ensure information is complete upon submission. PIF is managed by Pomona Capital, a global private equity firm specializing in secondaries investing and the private equity platform of Voya IM.

“As investors look to diversify their portfolios, providing access to PIF via a streamlined and efficient solution makes it easier to invest in private equity, leading to an improved experience for everyone involved in the investment process,” said Michael Granoff, chief executive officer, Pomona Capital.

PIF is nearing its seventh anniversary and has approximately $550 million in assets under management as of January 2022. PIF’s Class A shares delivered a net return of 44.35% to investors for the year ended Dec. 31, 2021, and a net return of 16.88% since inception.

With a $25,000 minimum subscription requirement and an investor-friendly tax reporting structure, PIF provides accredited investors with easier access to private equity opportunities. Most of the Fund’s investments are in secondary interests in seasoned private equity funds, with a complementary focus on primary and direct commitments. Similar to Pomona Capital’s institutional offerings, PIF’s strategy seeks the long-term capital appreciation associated with private equity while also reducing the risk associated with private equity investing.

iCapital has transformed how wealth management, banking, and asset management industries facilitate access to private market investments for their high-net-worth clients by providing intuitive, end-to-end technology and service solutions.

Voya IM is focused on expanding its alternatives offering and partnering with iCapital to leverage its market-leading platform. Partners like iCapital can help grow the investor base and improve the experience while exposing Voya’s unique and differentiated capabilities.