Coller Capital
Encyclopedia
Coller Capital, founded in 1990 by Jeremy Coller
, is one of the leading global investors in the Private equity secondary market
(also known as secondaries).
As a secondary investor, Coller Capital acquires original investors’ stakes in private equity funds (venture capital, buyout and mezzanine) together with portfolios of companies or stakes in companies, from institutions, corporates, government bodies, family offices or charitable foundations. The firm has completed some of the largest transactions in the private equity secondary market – $1 billion or more without the need for syndication. However, Coller Capital has also made single investments as small as $1 million in size.
Coller Capital received a number of private equity accolades in 2010:
investor with interests in over 200 private equity funds and stakes in more than 2,500 private companies throughout the world. The firm also has a multinational investment team and a global reach. Coller is a dedicated secondaries investor and like many of its peers has limited ability to make new commitments to private equity funds.
In 2007, Coller Capital closed Coller International Partners V, with capital commitments of $4.8 billion and participation from 200 of the world’s leading institutional investors.
and Lexington Partners
. Several large secondary investors with active fund-of-funds platforms (Adams Street Partners, AlpInvest Partners
, AXA Private Equity
, HarbourVest Partners
, Pantheon Ventures
, and Partners Group
) and certain investment banks with secondaries' divisions (Goldman Sachs
, Credit Suisse
, and JP Morgan) also serve as competition. To a lesser extent, the firm competes against mid-sized secondary firms (Greenpark Capital, Pomona Capital, and Paul Capital
).
Jeremy Coller
Jeremy Coller is a British financial executive. He is CEO and CIO of Coller Capital, a British private equity firm, which he founded in 1990.For 20 years, Jeremy Coller has played a key role in the evolution of the secondary market for private equity...
, is one of the leading global investors in the Private equity secondary market
Private equity secondary market
In finance, the private equity secondary market refers to the buying and selling of pre-existing investor commitments to private equity and other alternative investment funds....
(also known as secondaries).
As a secondary investor, Coller Capital acquires original investors’ stakes in private equity funds (venture capital, buyout and mezzanine) together with portfolios of companies or stakes in companies, from institutions, corporates, government bodies, family offices or charitable foundations. The firm has completed some of the largest transactions in the private equity secondary market – $1 billion or more without the need for syndication. However, Coller Capital has also made single investments as small as $1 million in size.
Coller Capital received a number of private equity accolades in 2010:
- PE International’s Secondaries Firm of the Year award for the 7th successive year
- European Secondaries House of the Year by PE News/Financial News for the 4th consecutive year
- BVCA/Real Deals award for Secondaries House of the Year
- In 2010, Coller Capital was recognised as the most consistent performing fund manager in the secondaries sector by Private Equity Intelligence (Preqin)
Notable deals
- In 1998, Coller Capital made the largest secondaries purchase of the time: the US-based ShellShell Oil CompanyShell Oil Company is the United States-based subsidiary of Royal Dutch Shell, a multinational oil company of Anglo Dutch origins, which is amongst the largest oil companies in the world. Approximately 22,000 Shell employees are based in the U.S. The head office in the U.S. is in Houston, Texas...
Pension Trust’s $265 million private equity portfolio.
- In 2000, the firm completed the $1 billion purchase of the National Westminster Bank's private equity portfolio from NatWest's acquirer, the Royal Bank of ScotlandRoyal Bank of ScotlandThe Royal Bank of Scotland Group is a British banking and insurance holding company in which the UK Government holds an 84% stake. This stake is held and managed through UK Financial Investments Limited, whose voting rights are limited to 75% in order for the bank to retain its listing on the...
.
- In 2001, Coller Capital made the first significant purchase of a corporate venture portfolio, acquiring 27 technology companies from Lucent's Bell Labs.
- In 2004, Coller Capital bought a $900 million portfolio from Abbey NationalAbbey NationalAbbey National plc was a UK-based bank and former building society, which latterly traded under the Abbey brand name. It became a wholly owned subsidiary of Grupo Santander of Spain in 2004, and was rebranded as Santander in January 2010, forming Santander UK along with the savings business of the...
– the largest unsydicated secondaries purchase of its time.
- In 2006, Coller Capital invested in ICICIIčićiIcici is a small place located in the north-east part of Istria, Croatia . It is located under a mountain Učka, on the north part of the Adriatic Sea....
Venture’s India Advantage Fund I – India’s first secondaries transaction.
- In 2007, the firm made the largest global secondaries investment in a corporate venture portfolio – Royal Dutch ShellRoyal Dutch ShellRoyal Dutch Shell plc , commonly known as Shell, is a global oil and gas company headquartered in The Hague, Netherlands and with its registered office in London, United Kingdom. It is the fifth-largest company in the world according to a composite measure by Forbes magazine and one of the six...
.
- Coller Capital’s investments in 2009 included high-profile transactions sourced from quoted private equity players, such as SVG CapitalSVG CapitalSVG Capital is a leading British private equity and investment management business. It is headquartered in London and is a constituent of the FTSE 250 Index.-History:...
and 3i3i3i Group plc is a multinational private equity and venture capital company headquartered in London, United Kingdom. It has offices in 13 countries across Asia, Europe and the Americas and had total assets under management of £12.7 billion as at 31 March 2011...
– for each of which the firm won European Deal of the Year awards [for PE and VC respectively].
- In 2010, Coller Capital formed a joint venture with Lloyds Banking GroupLloyds Banking GroupLloyds Banking Group plc is a major British financial institution, formed through the acquisition of HBOS by Lloyds TSB in 2009. As at February 2010, HM Treasury held a 41% shareholding through UK Financial Investments Limited . The Group headquarters is located at 25 Gresham Street in London, with...
to purchase a £480m portfolio of assets from the bank – for which the firm won European Secondaries Deal of the Year.
Investment Program
Coller is a dedicated secondariesSecondaries
Secondaries is a shorthand form for:* Private equity secondaries, pre-existing investor commitments to private equity and other alternative investment funds purchased in the private equity secondary market...
investor with interests in over 200 private equity funds and stakes in more than 2,500 private companies throughout the world. The firm also has a multinational investment team and a global reach. Coller is a dedicated secondaries investor and like many of its peers has limited ability to make new commitments to private equity funds.
In 2007, Coller Capital closed Coller International Partners V, with capital commitments of $4.8 billion and participation from 200 of the world’s leading institutional investors.
Competitors
Coller Capital regularly competes with dedicated secondaries' firms such as Landmark PartnersLandmark Partners
Landmark Partners, founded in 1989, is a leading investor in the Private equity secondary market . It is based in Simsbury, Connecticut.The firm was founded by Stanley Alfeld.-Investment Program:...
and Lexington Partners
Lexington Partners
Lexington Partners, is a leading independent manager of secondary private equity and co-Investment funds, founded in 1994. Lexington Partners manages approximately $18 billion of which $3.8 billion was committed to the firm's sixth and latest fund .Lexington was founded by former investment...
. Several large secondary investors with active fund-of-funds platforms (Adams Street Partners, AlpInvest Partners
AlpInvest Partners
AlpInvest Partners is a private equity investment manager and at the end of 2009 globally managed over €42 billion ....
, AXA Private Equity
AXA Private Equity
AXA Private Equity is a diversified private equity firm with $ 25 billion of assets managed or advised and with an international reach across Europe, North America and Asia...
, HarbourVest Partners
HarbourVest Partners
HarbourVest Partners is a private equity fund of funds and one of the largest private equity investment managers globally. The firm invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies...
, Pantheon Ventures
Pantheon Ventures
Pantheon is a private equity investment manager, operating through a series of fund of funds as well as a publicly traded private equity vehicle, Pantheon International Participations. Pantheon invests through new private equity funds as well as secondary market purchases of existing private...
, and Partners Group
Partners Group
Partners Group is a global private markets management firm with over EUR 20 billion in investment programs under management in private equity, private debt, private real estate, private infrastructure and absolute return strategies...
) and certain investment banks with secondaries' divisions (Goldman Sachs
Goldman Sachs
The Goldman Sachs Group, Inc. is an American multinational bulge bracket investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients...
, Credit Suisse
Credit Suisse
The Credit Suisse Group AG is a Swiss multinational financial services company headquartered in Zurich, with more than 250 branches in Switzerland and operations in more than 50 countries.-History:...
, and JP Morgan) also serve as competition. To a lesser extent, the firm competes against mid-sized secondary firms (Greenpark Capital, Pomona Capital, and Paul Capital
Paul Capital
Paul Capital is a private equity investment firm made up of a fund of funds, secondary investments and a healthcare direct investment business...
).