Coller secures $1.4b for global credit secondaries fund

It follows the firm completing what it claimed was the world’s largest-ever private credit secondary transaction last year in Asia. A Coller-led consortium acquired interests in four global credit funds, worth a combined $680 million, from China Ping An Insurance’s overseas investment platform. Coller contributed USD 580m from its funds and co-investment vehicles.

The new fund, Coller Credit Opportunities (CCO) I, and its associated co-investment vehicles launched in May 2021 with an initial target of USD 750m. The LP base includes more than 30 institutional investors, including pension plans, insurance companies, endowments, foundations, and family offices, according to a statement.

“CCO I is our first dedicated fund for private credit secondaries, but it is not our first foray into private credit investing,” said Michael Schad, the firm’s head of credit secondaries. “We have a long track record of credit secondary investing in our flagship funds – indeed, the three partners who lead our credit secondary team have invested together for a dozen years.”

Ed Goldstein, CIO for the credit strategy, added that Coller is “delighted but not surprised” by the strong investor interest, noting that the private credit market is worth more than USD 1trn.

Coller provides liquidity solutions to private markets investors globally, acquiring interests in private equity, private credit, and other private markets assets. The firm is currently deploying its eighth flagship private equity secondaries fund, which closed in January 2021 with USD 9bn in commitments, including co-investment vehicles.

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• Topics
• Fundraising
• Secondaries
• Credit/Special Situations
• GPs
• Coller Capital
• Asia
• Secondaries