Coller Capital launches SICAV fund for wealth investors
Private markets secondaries investor Coller Capital has launched a Luxembourg domiciled private credit SICAV fund, accessible to eligible private wealth investors outside of the US.
A Société d’investissement à Capital Variable, or SICAV fund, is a European fund structure similar to open-end mutual funds in the US. Shares in the fund are bought and sold based on its current net asset value, or NAV.
Coller Credit Secondaries (CollerCredit) will be seeded with more than $250m (£187.5m) of capital from investors globally. It seeks to deliver a combination of absolute and risk-adjusted returns, diversification, and the opportunity for more liquidity than traditional private credit funds.
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This year, Coller Capital has opened offices in Luxembourg, Zurich, Melbourne, and Montreal and made several senior appointments to spearhead its private wealth offering outside of the US.
In June, the firm received regulatory approval to launch CollerEquity, a dedicated perpetual private equity fund for private wealth investors outside of the US. That fund was seeded with $470m of capital from investors globally.
“CollerCredit is in the vanguard of private credit secondaries funds for wealth investors, and will provide institutional-grade access to enhanced diversification, attractive valuations and risk-adjusted returns,” said partner and head of private wealth secondaries solutions Jake Elmhirst. “Private credit secondaries are a flourishing, fast-growing segment of the market and we are pleased that this fund will provide private wealth investors with the best-in-class investment opportunities available in this space.”
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Managing director and head of international private wealth distribution Boris Maeder added: “As private wealth investors continue to add fixed-income alternatives to their portfolios, private credit plays an increasingly important role.”
Head of Coller Credit Secondaries Michael Schad said: “Today the addressable market for private credit secondaries is north of $4trn. It’s a vast opportunity that requires significant resource to oversee, which is why we have the largest dedicated team in the industry. We’re proud to share this expertise with private wealth investors going forward.”
Coller Capital has more than $35bn of assets under management. CollerCredit will be made available to professional and qualified investors in eligible jurisdictions in compliance with local law.
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