Coller Capital closes $9bn secondaries fund

The figure raised includes co-investment vehicles. CIP VIII has more than 200 LPs worldwide. 

Launched in March 2018, the fund held an interim close on $4.89bn in January 2020. Its predecessor vehicle closed on $7.15bn in December 2015. 

Investments
The fund has a global mandate and will make individual investments of up to $1bn or more in size. As of the end of December 2020, the fund had already committed almost one third of its final committed capital.

Investments to date in Europe include a GP-led secondary transaction for Permira IV in May 2020, where the fund's remaining assets were transferred into a new investment vehicle. Permira IV was raised in 2006 and was coming to the end of its lifespan. With further opportunities for growth identified but no uncalled capital left, a GP-led process was launched in order to tap a new pool of investors. 

In another GP-led deal, CIP VIII backed the single-asset GP-led transaction of 3i's Action, in which the non-food discount retailer was moved from 3i Eurofund V to a continuation vehicle in December 2019. The transaction facilitated a liquidity offering to existing LPs, while allowing the GP to continue its rollout of Action stores throughout Europe.  

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• Topics
• Secondaries
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• Coller Capital
• Secondaries