Coller targets $9bn for eighth secondaries fund

This is a significant increase on CIP VII, which targeted $6.5bn and held a final close on $7.15bn in January 2016. The vehicle was thought to be more than 70% invested by December 2017.

The launch follows the announcement of what could be the largest secondaries fund ever by competitor Lexington Partners, which is targeting $12bn.

Ardian's ASF VII held a final close on $14bn in April 2016, but only $10.8bn was earmarked for secondaries, with the rest being allocated to primary raises.

Coller's return to market comes as secondary transactions hit a new peak in the region of $45-50bn in 2017.

The secondaries investor did not use a placement agent for the fund, while Simpson Thatcher acted as legal counsel.

Investors
The fund's predecessor, CIP VII, received commitments in excess of $100m from CalSTRS, London Pensions Fund Authority and Copera, according to Unquote Data.

Investments
CIP VIII will invest in secondary transactions, targeting global sellers. Investments will range from $1m to more than $1bn.

People
Coller Capital – Jeremy Coller (CIO).

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• Secondaries
• Coller Capital