  We consider M-theory on AdS_4 x V_{5,2} where V_{5,2}= SO(5)/SO(3) is a
Stiefel manifold. We construct a Penrose limit of AdS_4 x V_{5,2} that provides
the pp-wave geometry. There exists a subsector of three dimensional N=2 dual
gauge theory, by taking both the conformal dimension and R charge large with
the finiteness of their difference, which has enhanced N=8 maximal
supersymmetry. We identify operators in the N=2 gauge theory with supergravity
KK excitations in the pp-wave geometry and describe how the gauge theory
operators made out of chiral field of conformal dimension 1/3 fall into N=8
supermultiplets.
