Investor Base: Coller Capital

Coller Capital’s latest flagship secondaries vehicle is the firm’s largest fund to date. Coller International Partners VII (CIP VII) hit its $6.5 billion hard-cap, thanks to international interest from limited partners.

Combined with a $650 million commitment from the firm itself, CIP VII wrapped up its fundraising on 31 December with a war chest of $7.15 billion. Coller said the investor base consists of 170 LPs from 27 countries – 82 percent were returning investors.

Pension funds represented 62 percent of CIP VII’s investor base, while sovereign wealth funds and government entities accounted for a combined 15 percent. Insurance companies reflected 11 percent of the investors, and the remaining 12 percent consisted of endowments and foundations, family offices and other asset managers.

It is also understood that the new fund is more globally balanced, with about a third of the investor base in the US, a third in Europe and a third in Asia, Latin America and the Middle East, by amount committed. In the past, Coller’s funds have raised almost half of their capital come from the US.

“We were delighted with investor demand for our seventh fund – the largest majority of its capital was raised in about six months, and the fund was oversubscribed,” says chief investment officer Jeremy Coller. “With over $7 billion of commitments, CIP VII will be able to provide comprehensive liquidity solutions to even the largest investors.”

Early investors in CIP VII include the Louisiana State Employees’ Retirement System, which approved a $75 million commitment to the fund in March, according to its investment committee meeting reports, and Taipei-based Fubon Financial, which committed $50 million to CIP VII Feeder Fund in June.

According to PEI Research & Analytics, other investors include Michigan Department of Treasury ($150 million), the Pennsylvania Public School Employees’ Retirement System ($100 million), the New Mexico State Investment Council ($75 million) and the City of London Corporation Pension Fund (£6 million; $8.7 million; €7.9 million).

CIP VII’s predecessor, CIP VI, closed in 2012 on $5.5 billion with backing from almost 200 LPs, the firm said.

Coller will invest in a broad range of secondary transactions of between $1 million and over $1 billion.