Coller to close USD 1.4bn debut credit secondaries fund

The fund was launched in May 2021 and had an initial target of USD 750m.

Founded in 1990, Coller has offices in London, Hong Kong and New York. The firm has previously made credit secondaries investments via its flagship secondaries strategy, the GP said in a statement, but CCO I is its first vehicle to be wholly dedicated to this.

The GP's secondaries fund Coller International Partners VIII held a final close in January 2021 on USD 9bn. The GP's recent deals include its commitment to Emeram Capital Partners' EUR 100m continuation fund for sports equipment business Boards & More, as well as co-leading a GP-led deal for Nordic Capital-backed content production business Vizrt. 

While private equity fund stakes and GP-led deals have historically dominated the secondaries market, firms that also invest in credit secondaries include Pantheon Ventures.

Coller Capital declined to comment.

Investors
On its final close, the fund will have commitments from more than 30 institutional investors, according to a statement. These include pension plans, insurance companies, endowments, foundations and family offices.

Investments
The vehicle will target investments in credit secondaries and has a full pipeline, according to a statement. The fund's investments to date include leading an investment in a USD 680m private credit portfolio managed by Ping An Overseas Holdings in July 2021.

People
Coller Capital – Michael Shad (head of Coller credit secondaries); Ed Goldstein (chief investment officer of Coller credit secondaries).

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