Coller Capital has closed its latest private credit secondaries fund at $6.8bn in capital commitments, marking the largest capital raise to date for its credit platform and reinforcing its position as a dominant force in the secondaries space.
The closing of Coller Credit Opportunities II (CCO II), which focuses on senior direct lending and high-quality performing credit and target both LP-led and GP-led secondary transactions, brings Coller’s total committed capital to private credit secondaries to $10.1bn.
The raise eclipses the firm’s previous $1.4bn CCO I fund, which had also set a record at the time. Investors in CCO II include a global mix of institutions seeking diversified exposure, liquidity, and defensiveness in an environment increasingly defined by private market complexity and macroeconomic uncertainty.
Michael Schad, Head of Coller Credit Secondaries, said the raise cements Coller’s leadership: “Our disciplined, credit-centric investment strategy, combined with our ability to execute complex transactions at scale, continues to resonate with global investors seeking defensive, diversified strategies. With increased market participation and liquidity demand, we anticipate continued strong activity in LP-led and GP-led transactions throughout 2025 and beyond.”
Jeremy Coller, CIO and Managing Partner, added: “Coller Credit Opportunities II is a milestone fundraise that reaffirms the significant evolution and maturation of the private credit secondaries market. Investors increasingly recognise the strategic importance of private credit secondaries in achieving defensive exposure, liquidity, and enhanced portfolio management amid heightened market volatility.”
Coller’s private credit secondaries strategy is benefiting from surging deal flow, with over $53bn in opportunities assessed since January 2024 alone, driven by limited partners seeking liquidity and general partners looking to manage fund life cycles and investor rotation.
The firm has already led some of the largest transactions in the space, including the $1.6bn acquisition of a senior direct lending portfolio from American National, and the creation of a $1.6bn credit continuation vehicle with Abry Partners in 2024 — both considered landmark deals in private credit secondaries.
Founded in 1990, Coller Capital has long been a pioneer in the private markets secondaries arena and now manages more than $30bn in assets across private equity, credit, and infrastructure strategies.
