State Street partners with Coller Capital
State Street Corporation has been appointed by private markets secondaries investor Coller Capital to provide fund administration and accounting, custody, depositary services, currency management and transfer agency.
The full-service appointment follows State Street’s work with Coller Capital on the US launch of its global private wealth secondaries solutions business in February 2024, which provides high-net-worth individuals further access to private capital markets.
As part of this relationship, State Street partnered with Coller Capital on its launch of two Luxembourg-domiciled funds focused on private equity and private credit secondaries strategies.
Read more: State Street and Apollo to launch retail private credit ETF
“Opening up private markets to a wide and global investor base, including private wealth investors, is an important part of our strategy,” said Coller Capital head of private wealth secondary solutions Jake Elmhirst.
“Our parallel fund vehicles offer investors in and outside of the US the opportunity to invest in the same assets within the private markets universe. We are delighted to collaborate with State Street on these new products, their experience in this fund structure and its global reach can help ensure our success.”
Read more: Coller Capital and Abry Partners close $1.6bn credit vehicle
State Street global head of alternatives Scott Carpenter added: “Private markets are a significant growth area with rapidly expanding investor types as well as fund liquidity profiles.
“We are pleased to be working with Coller Capital, whose strong track record in product innovation is pivotal in servicing high-net-worth individuals.”
Coller Capital has $33bn (£25bn) of assets under management, acquiring interests in private equity, private credit, and other private markets assets.
Read more: Coller Capital expands private wealth business in Canada
