Secondaries private equity major Coller Capital has raised what is believed to be the biggest LP-backed fund dedicated to credit secondaries through a $1.4bn final close.
The firm initally only planned to raise $750m for CCO I at launch last May, but was “delighted and surprised” by strong investor interest according to Coller CIO Ed Goldstein.
He said, “The private credit market is now well over a trillion dollars in size, and we have a full pipeline of interesting investment opportunities.”
CCO I’s early investments include exposure to Coller’s Ping An transaction – the world’s largest private credit secondaries investment.
Coller led the investment into a $680m private credit portfolio managed by Ping An Overseas Holdings last July.
Michael Schad, head of Coller Secondaries, said, “CCO I is our first dedicated fund for private credit secondaries, but it is not our first foray into private credit investing.
“We have a long track record of credit secondary investing in our flagship funds – indeed, the three Partners who lead our credit secondary team have invested together for a dozen years.”
In January last year Coller scored its biggest fundraise yet after hauling in more than $9bn for its eighth flagship investment vehicle.
Coller International Partners VIII easily outstripped the already impressive $7.15bn the firm collected for its predecessor fund in 2015.
Copyright © 2022 AltAssets
- 2022
- According
- already
- Biggest
- capital
- CIO
- credit
- dollars
- dozen
- Early
- easily
- Eighth
- equity
- Firm
- First
- Free
- full
- fund
- Fundraise
- Fundraising
- funds
- head
- HTTPS
- interest
- International
- investing
- investment
- Investments
- investor
- IT
- January
- July
- launch
- lead
- Led
- Long
- major
- Market
- more
- opportunities
- P&E
- partners
- ping
- portfolio
- private
- raise
- record
- Said
- secondary
- Size
- Story
- strong
- Target
- Through
- together
- track
- transaction
- vehicle
- What
- What is
- WHO
- world’s
- years