Coller Capital, one of the biggest firms in secondaries and a pioneer in the industry, is making changes to its partnership two months after closing its largest-ever fund.
Five partners at the secondaries firm will step down from their roles during the course of this year, according to a document seen by Secondaries Investor. They are Axel Hansing, Peter Hutton, Stephen Marquardt, Frank Morgan and Dave Platter.
Marquardt is co-head of investor relations and fundraising, while Morgan is president of Coller’s US subsidiary.
“On behalf of the whole Coller team, I wish to record my gratitude for their contributions to our business,” Jeremy Coller, the firm’s founder and chief investment officer, said in the document. “Between them, they have chalked up 70 years’ service to the firm – and we have benefitted from their skills and experience not only in their specialist domains, but in their guidance and mentorship of the whole generation that follows them.”
It is understood that some of the departing partners will remain as senior advisors to the firm and that their departures will not trigger any key person clauses.
Coller’s investors are understood to have been informed about the changes.
The firm has also promoted six professionals to the partnership across its investment, investor relations and talent/HR teams. They are Adam Black, Hani El Khoury, Yonatan Puterman, Steven Stolk, Gerald Carton and Rani Swords.
Black is head of ESG and responsible investment and joined the firm in 2016 from Doughty Hanson. El-Khoury, Puterman and Stolk are all London-based investment professionals, while Carton focuses on investor relations and fundraising, and Swords is head of HR and talent management, according to Coller’s website.
“It has been Coller Capital’s long-standing policy to nurture investment talent within the firm, and in consequence most of the firm’s senior investment professionals are now ‘home grown’, rather than being hired into the business at senior level,” Jeremy Coller said in the document. “All six of our new Partners have made unique contributions to our business, by shaping our funds’ investment portfolios and/or strengthening our platform.”
The changes come as the firm deploys its $9 billion Coller International Partners VIII vehicle which held its final close in January, as Secondaries Investor reported. The fund, which is 26 percent larger than its predecessor, is over 50 percent invested, according to a source familiar with the vehicle.
London-headquartered Coller is the sixth-largest secondaries firm by fundraising over the previous five-year period, according to the latest Secondaries Investor SI 30 ranking. The firm raised just over $12 billion in the five years to June last year.
A spokeswoman for Coller declined to comment for this story.