Fundraising

Coller eyes familiar target for Fund VII

The global secondaries player is expected to come to market later this year with its seventh secondaries fund. Fund VI is roughly two-thirds deployed.

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London-based Coller Capital, the global secondaries fund manager, will likely target $5 billion for its seventh secondaries fund, according to multiple sources close to the firm’s thinking.

Slated to begin marketing sometime after September, Fund VII will target the same amount as its predecessor, Coller International Partners Fund VI.

Secondaries Investor understands the firm has not yet started soft-marketing Fund VII to LPs.

Coller declined to comment on fundraising.

In February, Coller expanded its fundraising team, hiring Kanika Kumar from Acanthus Advisors as a fundraising manager in its London office.

In March Secondaries Investor revealed Coller Capital had invested more than $3.5 billion – roughly over two-thirds – of Fund VI, which closed over its target on $5.5 billion in July 2012.

CIP VI’s first deal was backing the March 2012 spin-out of Crédit Agricole Private Equity, a European SME investor that was renamed Omnes Capital, followed by the $1.03 billion purchase of a Lloyds Banking Group portfolio and the backing of Barclays Africa spin-out Rockwood Private Equity.

LPs in Fund VI include the California State Teachers’ Retirement System, Colorado Public Employees’ Retirement Association and Tyne and Wear Pension Fund in the UK, according to PEI data.