– EQT AB has signed an agreement to acquire Coller Capital, a global secondaries firm
– Coller Capital has nearly USD 50 billion in total assets under management, including USD 33 billion in fee-generating AUM
– The firm invests across private equity and private credit secondaries
– Coller Capital is headquartered in the UK with 330 professionals, including 77 investment professionals, across 11 global offices
– The firm serves institutional investors, private wealth clients, and insurance-dedicated solutions
– The transaction combines EQT’s global scale, multi-strategy platform, and active ownership model with Coller Capital’s specialist secondaries expertise
– Coller Capital contributes deep data, analytics capabilities, and a long track record of strong investment performance
– The combination supports EQT’s ambition to build a leading global private markets firm
– The combined platform spans private equity, infrastructure, real estate, and secondaries
– The partnership strengthens relationships with institutional, private wealth, and insurance clients globally
– Private markets are increasingly shaped by demand for liquidity solutions, longer ownership horizons, and product innovation
– Secondaries market deal volumes grew 41% in 2025 to USD 226 billion
– Expansion into adjacent secondaries strategies across real assets
– Acceleration of growth in Asian markets using a combined on-the-ground presence of approximately 390 FTEs
– EQT CEO Per Franzenén highlighted secondaries as a critical tool for liquidity, portfolio construction, and long-term ownership
– Coller Capital CIO Jeremy Coller described the partnership as a defining moment and emphasized continued independence of origination and investment processes
– Upon closing, Coller Capital will form a new platform within EQT branded “Coller EQT”
– Coller EQT will sit within a new Secondaries business segment
– Jeremy Coller will become Head of Coller EQT and join EQT’s Executive Committee
– Coller EQT’s origination and investment process will remain independent
Key transaction terms
– EQT will acquire 100% of the Coller Capital management company and general partner entities
– EQT will acquire 10% of carried interest in Coller’s most recent flagship fund, CIP IX
– CIP IX closed at USD 10.2 billion in fee-generating commitments, with a total fund size of USD 14.2 billion
– EQT will be entitled to 35% of carried interest in all future closed-ended Coller Capital funds
– Base consideration totals USD 3.2 billion on a cash- and debt-free basis
– Jeremy Coller will receive approximately 72% of the base consideration and 29% of the contingent consideration
– Institutional minority sellers will receive approximately 19% of the base consideration and 8% of the contingent consideration
