State Street Investment Management has made a strategic minority investment in Coller Capital (Coller), one of the world’s largest dedicated private market secondaries managers. The firms have also agreed to collaborate across a variety of client segments to drive innovation and broaden each firm’s reach.
State Street Investment Management currently manages more than $5tn in assets for clients in more than 60 countries around the world. This relationship advances State Street Investment Management’s strategy to expand into private markets by partnering with alternative asset managers.
Coller brings 35-years of experience in private market secondaries and currently manages more than $46bn of secondaries assets across its institutional closed-end funds and its perpetual funds open to professional and qualified individual investors. The investment and strategic relationship will support Coller’s long-term growth strategy, expanding access to secondaries to a broader range of investors and markets.
The strategic minority investment by State Street will not change the investment process or day-to-day management of Coller Capital. The proceeds from the transaction will be reinvested into the Coller business.
Goldman Sachs & Co. LLC served as financial advisor and Sullivan & Cromwell LLP and Ropes & Gray LLP served as legal advisors to State Street. Morgan Stanley & Co. International Plc served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Coller.
