Spring Bridge Partners, a secondaries firm formed by two ex-Coller Capital partners, is in market with its debut fund two years after Secondaries Investor reported it was considering raising a vehicle.
Spring Bridge Partners LP was registered with the US Securities and Exchange Commission in September and has employed Lazard as a placement agent, according to a regulatory filing.
The fund’s target is $500 million, according to two sources with knowledge of the matter.
The vehicle has been pre-marketing since before September, according to one of the sources. It is not clear how much the fund has raised so far.
Secondaries Investor revealed in 2017 that Spring Bridge founders Sebastien Burdel and Luca Salvato were leaving Coller to form a new venture. They have since been joined by former Coller investment managers Clement Beaudin, who as appointed in May as a vice-president, and Raudel Yanez, who joined in January as a director.
In November 2018 the firm hired Anwer Farooqui, Abu Dhabi Investment Authority’s former secondaries head, as a senior advisor.
Spring Bridge has made several deal-by-deal investments to create a shop window for its fundraise. In August last year it backed the spin-out of Wafra Partners, the direct investment team of Wafra Investment Group, to become Granite Bridge Partners, Secondaries Investor reported.
The firm focuses on GP-led transactions, spin-outs, structured deals involving loans, preferred debt or preferred equity, and liquidity to GPs, according to its website.
Spring Bridge declined to comment on fundraising.