The Baring-Coller secondaries Fund is launched

Baring Asset Management has announced that it has teamed up with Coller Capital to launch its first private equity secondaries fund. The fund, entitled The Baring-Coller Secondaries Fund, has a target of $20m and anticipates holding a first close in July, with a final close in September this year. The vehicle, which is a Guernsey-based LP, is a closed-end ‘feeder’ fund with an anticipated life of ten years (extendable by three years). It will be invested in Coller International Partners IV LP, the latest secondaries offering from Coller Capital, which is targeting $1bn and held a first closing in May on $724m. The Baring-Coller Secondaries Fund has a minimum subscription of $100,000 and is targeting private clients, charities and smaller institutions in the UK, Europe and the Far East. This low level of commitment has been designed to give smaller investors access to the lucrative secondaries market, which would otherwise be out of their reach, since the minimum investment into Coller International Partners IV is $10m. Draw down from The Baring-Coller Secondaries Fund will be in two tranches of 50% each. No details of the management fees or other fund structures have been disclosed.

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