Coller Capital announces close of $1.4B fund for private credit secondaries

Coller Capital Inc announced the close of fundraising for a $1.4 billion fund that will invest in private credit secondaries.

The Coller Credit Opportunities I (CCO I) launched in May 2021 with an initial target of $750 million.

Investor interest was "strong," and included commitments from "over 30 institutional investors, including pension plans, insurance companies, endowments, foundations, and family offices," according to a Feb. 2 statement.

"The private credit market is now well over a trillion dollars in size, and we have a full pipeline of interesting investment opportunities," said Ed Goldstein, chief investment officer of Coller Credit Secondaries.

Michael Schad is head of Coller Credit Secondaries.

The company said CCO I's early investments included Coller's Ping An transaction, which it called "the world's largest private credit secondaries investment."

Coller led that investment, which closed in July 2021. Coller and affiliates provided $580 million of the $680 million total for a private credit portfolio managed by Ping An Overseas Holdings. An Asia-based institution invested $100 million.

That investment portfolio comprises four credit funds managed by leading North American and European asset managers, Coller said. The portfolio "is highly diversified, covering 400 positions in over 250 companies and spread across a range of industries, including professional services, healthcare and telecommunications," according to an August 2021 statement describing that transaction.