The specialised manager of private market secondaries, Coller Capital, has introduced Coller Private Credit Secondaries (CollerCredit), a private credit “SICAV” fund with its domicile in Luxembourg that is open to qualified private wealth investors outside of the United States.
Global investors will contribute more than $250m to the fund’s initial seed.
In comparison to conventional private credit funds, CollerCredit aims to provide a mix of absolute and risk-adjusted returns, diversification, and the chance for increased liquidity.
In accordance with local legislation, CollerCredit will be made accessible to qualified and professional investors in specific jurisdictions.
CollerCredit is the newest in a series of private wealth initiatives from Coller Capital, as the firm expands its strategic presence in the private wealth market.
This year alone, the secondaries specialist established offices in Luxembourg, Zurich, Melbourne, and Montreal, as well as named numerous senior executives to lead the private wealth business outside of the United States.
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By GlobalDataColler Capital gained regulatory clearance in June to create CollerEquity, a permanent private equity fund geared to private wealth investors outside the United States. That fund received $470m in financing from foreign investors.
CollerCredit, an open-ended fund, will allow private investors with access to Coller’s 34 years of secondary investment experience and global network.
Jake Elmhirst, Partner, Head of Private Wealth Secondaries Solutions, stated: “CollerCredit is in the vanguard of private credit secondaries funds for wealth investors, and will provide institutional-grade access to enhanced diversification, attractive valuations, and risk-adjusted returns. Private credit secondaries are a flourishing, fast-growing segment of the market and we are pleased that this fund will provide private wealth investors with the best-in-class investment opportunities available in this space.”
Boris Maeder, Managing Director, Head of International Private Wealth Distribution, shared: “As private wealth investors continue to add fixed-income alternatives to their portfolios, private credit plays an increasingly important role. The strong growth of the private credit market over the past decade provides a large opportunity set for credit secondaries. Since 2007, Coller has been a pioneer in the credit space, which, coupled with our team’s wealth management experience, allows us to structure investment opportunities like CollerCredit that meet the risk-return requirements of private wealth investors.”
Michael Schad, Partner, Head of Coller Credit Secondaries, added: “Today the addressable market for private credit secondaries is north of $4trn. It’s a vast opportunity that requires significant resource to oversee which is why we have the largest dedicated team in the industry. We’re proud to share this expertise with private wealth investors going forward.”
Coller Capital, the largest independent investor in the private capital secondaries market, manages over $35bn assets and has over 30 years of experience. Professional and qualified investors make up a growing part of the Coller investor base.
