Coller Capital, an investor in private equity secondaries, has held the final closing of Coller International Partners VI (CIP VI) with commitments of USD5.5bn.
CIP VI, which had a target size of USD5bn, will acquire private equity portfolios – positions in existing private equity funds and interests in privately-held companies – thus providing liquidity to the original investors in these assets.
Like its five predecessor funds, CIP VI will take a flexible approach. Advised by a multinational team based in London, New York and Hong Kong, the fund will target assets and sellers located anywhere in the world, and make individual investments ranging in size from USD1m to USD1bn-plus.
The new Coller fund has more than 200 limited partners. Pension plans account for some 53 per cent of the fund’s committed capital; sovereign wealth funds/government entities for 15 per cent; and insurance companies for 10 per cent; with the remaining commitments coming from endowments and foundations, family offices and other types of asset manager.
Jeremy Coller, Coller Capital’s chief investment officer, says: “We are delighted to have formed this new fund partnership at such an exciting time in the secondaries market, when investors from all over the private equity world are looking to re-shape their portfolios or exit from the asset class. With USD5.5bn of firepower, CIP VI will be able to provide comprehensive secondaries solutions to even the largest of these investors. We have already committed USD800m of the new fund’s capital, and we have a very full pipeline of potential investments.”
Coller Capital was advised and supported in the raising of CIP VI by the funds team at O’Melveny & Myers.
