Hunter Point buys minority stake in Coller Capital

All proceeds from the transaction will be reinvested into Coller Capital's funds, the sponsor said in a press release.

There will be no changes in Coller's governance, the investment process or the firm's day-to-day management, it said in the same statement.

Morgan Stanley and Evercore were joint financial advisors on the deal. Kirkland & Ellis provided legal advice to Coller, while Fried, Frank, Harris, Shriver & Jacobson acted as legal counsel to HPC.

The news comes just days after HPC announced a minority investment in UK buyout house Inflexion, as reported. Its other recent investments include US-based luxury consumer sector-focused sponsor L Catterton.

Following a flurry of M&A activity in secondaries, Coller Capital had been one of the few large secondaries players not snapped up by a fellow sponsor. CVC acquired Glendower Capital in September 2021, while Franklin Templeton bought Lexington Partners in November that year, prompting speculation as to who might be next.

Founded in 1990 by managing partner and chief investment officer Jeremy Coller, Coller Capital is a London-headquartered secondaries investor with additional offices in New York, Hong Kong and Seoul.

Since its foundation, Coller has expanded its secondaries strategies to include private credit, raising its debut fund dedicated to the strategy in February 2022, with commitments of USD 1.45bn from more than 30 institutional investors.

More recently, it launched its Private Wealth Secondaries Solutions (PWSS) business to provide high net worth individuals with access to its private markets strategy, as reported.

The firm closed its eighth flagship secondaries fund in January 2021 on more than USD 9bn, with an LP base of over 200 international investors. Earlier in 2023, the firm launched what it said in a statement is the secondaries market's first RMB denominated fund, with a target of RMB 1.5bn (approximately EUR 200m).

HPC was formed in 2020 by Executive Chairman Bennett Goodman and CEO Avshalom Kalichstein. Goodman co-founded Blackstone credit arm GSO Capital Partners, while Kalichstein previously held positions at Easterly Capital and JC Flowers.

Last month, HPC launched a GP financing solutions platform alongside its GP stakes strategy, with the aim of providing NAV-based loans and preferred financing solutions.

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