Coller Capital launches 40 Act fund targeting private wealth

Coller Secondaries Private Equity Opportunities Fund will be seeded with over $300m from the firm and other institutional investors.

Coller Capital is set to launch an evergreen private equity secondaries fund targeting high-net-worth individuals.

Coller Secondaries Private Equity Opportunities Fund will be seeded with over $300 million from the firm and other institutional investors, a spokesperson told Secondaries Investor.

While the 40 Act fund does not have a specific target, Coller sees “potential for this to be a meaningful contributor to the firm”, the spokesperson said.

C-SPEF will look to offer “attractive absolute and risk-adjusted returns, diversification and the opportunity for more liquidity than traditional private equity funds”, according to a statement. While the vehicle will invest across both LP-led and GP-led private equity secondaries opportunities, it will have a focus on LP portfolios, the spokesperson said.

The vehicle is open to both US-taxable and tax-exempt investors and offers monthly subscriptions and quarterly redemptions, according to the statement. It has a minimum investment ticket size of $50,000, according to the spokesperson.

C-SPEF, which will be open for investment in April, does not charge a management fee and “as a benefit to first movers” will not charge a management fee for the first year, the statement said.

“C-SPEF is designed to offer individual investors an easy way to invest in a diversified portfolio of private equity secondaries that has been carefully selected by a manager with a 30-year investment record,” Jake Elmhirst, head of Coller’s private wealth unit said in the statement.

Coller launched its platform targeting high-net-worth investors last year, Secondaries Investor reported at the time. It is planning to launch a Zurich hub to support the firm’s push into private wealth, Secondaries Investor reported yesterday.

Private capital semi-liquid or evergreen vehicles can be offered to a broader swathe of investors than a traditional closed-end fund, catering to those that require the ability to withdraw their money. This process often involves partial exposure to cash or a cashflow-generating asset class such as secondaries, which enables them to offer regular subscriptions and redemptions.

In October, Pantheon filed to register a dedicated private credit secondaries-focused investment strategy dedicated to the US private wealth market, Secondaries Investor reported.