Coller Capital closes sixth fund early at $5.5bn

Coller Capital has announced an early final close of its sixth private equity secondaries fund at $5.5bn, comfortably topping its $5bn target.

The Coller International Partners VI (CIP VI) fund will acquire private equity portfolios – positions in existing private equity funds and interests in privately-held companies, providing liquidity to the original investors.

Like its five predecessor funds, CIP VI will take a flexible approach, the firm said. The fund will target assets and sellers anywhere in the world, and make individual investments ranging in size from $1m to $1bn-plus.

CIP VI has more than 200 Limited Partners. Pension plans account for some 53% of the committed capital; sovereign wealth funds/government entities for 15%; and insurance companies for 10%. The remaining commitments come from endowments and foundations, family offices and other types of asset manager.

Jeremy Coller, Coller Capital’s chief investment officer (pictured), said investors from all over the private equity world are looking to re-shape their portfolios or exit from the asset class.

“CIP VI will be able to provide comprehensive secondaries solutions to even the largest of these investors. We have already committed $800m of the new fund’s capital, and we have a very full pipeline of potential investments.”

Coller Capital-advised secondaries funds have interests in over 300 primary-market funds and 2,500 private companies worldwide. Founded in 1990, the firm has been critical to the development of the secondaries market, launching the first such fund in Europe in 1994.

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