Pomona Capital, a New York and London-based secondaries specialist, has teamed up with Dutch bank ING to launch a private equity fund of funds vehicle targeting the burgeoning Asian buyout market.

The joint venture, ING Pomona Asia, will offer institutions and wealthy individuals the chance to invest in Asian-focused private equity funds. It will be based in Hong Kong, and will develop private equity fund of funds portfolios using a global investment committee drawn from both ING and Pomona, according to a spokesman for the new venture.