
Coller targets $9bn for eighth secondaries fund
Coller Capital has launched its latest secondaries fund, Coller International Partners VIII (CIP VIII), with a target of $9bn, Unquote understands.
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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