Coller plans Zurich hub as it targets private wealth growth

Coller launched a platform targeting high-net-worth investors last year, led by UBS veteran Jake Elmhirst.

Coller Capital is planning to launch a Zurich hub, which would bring its office count to seven globally.

The new office will support the firm’s push into private wealth, a source confirmed to Secondaries Investor. Private Equity News first reported on the news.

Coller Capital declined to comment.

Last year, Coller launched a secondaries platform targeting high-net-worth investors, Secondaries Investor reported at the time. The unit is led by UBS veteran Jake Elmhirst, who joined the firm in 2022 and spent 25 years at UBS, most recently leading their private markets effort within UBS’s global wealth management division, according to a statement at the time.

The platform would build on Coller’s existing relationships with private banks, wealth managers and investment advisers that distribute the firm’s products, the statement said.

“The thing that intrigued me about secondaries is it is probably the best suited private asset class for private wealth,” Elmhirst told Secondaries Investor at the time. “It’s highly diversified [and] a lot of the time you’re buying assets at a discount, so it’s very downside protected.”

He added that another advantage for high-net-worth investors who have never invested in private equity before will have the bonus of getting money to work quickly and getting cash back at a faster rate.

Coller sold a minority stake to GP stakes firm Hunter Point Capital last year. The investment was to be used to support Coller’s long-term growth, including its expansion into private wealth, according to a statement.

Other recent initiatives the firm has launched include its debut credit secondaries fund Coller Credit Opportunities I, which closed on $1.4 billion in 2022, above its $750 million target. Coller also opened a Beijing office in 2021 and launched a debut yuan-denominated secondaries vehicle, Secondaries RMB Fund I, last year. The fund has a 1.5-billion yuan ($208 million; €193 million) target.