Coller amasses more than $7bn for Fund VII – exclusive

Coller Capital has amassed more than $7 billion for its latest flagship secondaries vehicle. The firm hit its hard-cap on $6.5 billion for Coller International Partners VII (CIP VII). With a $650 million commitment from the firm itself, the fund helps form a war chest of $7.15 billion, a spokesman told sister publication Private Equity International.

CIP VII will invest in a broad range of secondaries transactions, targeting assets and sellers located anywhere in the world and making individual investments ranging in size from $1 million to more than $1 billion.

The limited partner base in the new fund comprises around 170 investors from 27 different countries, the vast majority of which invested in Coller’s previous funds, the firm said.

Jeremy Coller, the firm’s founder and chief investment officer, said the bulk of the oversubscribed fund was raised in “about six months”.

“With over $7 billion of commitments, CIP VII will be able to provide comprehensive liquidity solutions to even the largest investors,” said Coller. “We have already committed around a billion dollars of the new fund’s capital, and we have a broad range of potential investments in the pipeline.”

“The secondaries industry has come of age in the last few years, becoming a mainstream segment of the private equity asset class and a vital tool for investors,” Coller added.

As reported last year on Secondaries Investor, early investors in CIP VII included Louisiana State Employees’ Retirement System, which approved a $75 million commitment to the fund in March, and Taipei-based asset manager Fubon Financial, which committed $50 million to Coller International Partners VII Feeder Fund in June.

All of Coller’s dedicated secondaries funds have performed with between a 1.4x and 1.6x return on investment, with net IRRs of between 10 percent and 25 percent, as of 31 December 2014, according to data released by Pennsylvania Public School Employees’ Retirement System (PSERS), which has invested $100 million in the fund.

Additional reporting by Adam Le.