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Coller hires ex-UBS Private Funds exec

Jake Elmhirst was a managing director and founding member of the Private Funds group at UBS, which he left in 2021 after 25 years.

Coller Capital has bolstered its senior ranks after the recent exit of two partners.

The secondaries specialist has appointed Jake Elmhirst as a partner, according to his LinkedIn profile. Secondaries Investor understands that he will mainly focus on investor relations for Coller’s private credit secondaries product.

Elmhirst departed UBS in May 2021 after 25 years, affiliate title Private Equity International reported. He was a founding member of the investment bank’s private funds group and was most recently a managing director and head of private market content at UBS Wealth Management, based in London.

Coller has had significant turnover at the partner level since closing its eighth private equity secondaries fund on $9 billion in January 2021.

In March, Secondaries Investor reported that London-based partner and 12-year Coller veteran Louise Boothby was to join Glendower Capital. Her departure came two weeks after that of Amyn Hassanally, who left to join Pantheon as partner and global head of private equity secondaries.

In March of last year, long-serving Coller partners Axel Hansing, Peter Hutton, Stephen Marquardt, Frank Morgan and Dave Platter stood aside. The firm has also promoted six professionals to the partnership: Adam Black, Hani El Khoury, Yonatan Puterman, Steven Stolk, Gerald Carton and Rani Swords.

Coller has quickly carved out a position in the credit secondaries space. In February, it collected $1.4 billion for its debut fund dedicated to the strategy, including co-investment capital. The fund launched the previous May with a target of $750 million.

Coller has invested more than $3 billion in the asset class through its flagship funds prior to the launch of a dedicated vehicle. The credit team is led by Michael Schad, Ed Goldstein and Martins Marnauza.