Coller Capital has attracted commitments from approximately 170 investors in 27 countries for its latest Guernsey fund.
The private equities secondaries specialist closed the launch of its Coller International Partners VII fund after raising US$7.15bn.
Like its six predecessor funds, the Guernsey based fund will take a flexible approach. Advised by a multinational team based in London, New York and Hong Kong, the fund will target a wide array of secondary transactions, targeting assets and sellers located anywhere in the world, and making individual investments ranging in size from $1 million to $1 billion plus.
Pension plans account for some 62% of the committed capital. Sovereign wealth funds and other government entities account for some 15% of committed capital, with a further 11% from insurance companies.
Northern Trust is providing the fund administration, banking and depositary services for the fund. Law firm Carey Olsen, the offshore law firm also assisted in the launch of the fund.
Belinda Burgess, Head of Northern Trust in the Channel Islands, said: "Northern Trust has provided services to Coller for more than 20 years and we are delighted to continue to evolve with them, offering innovative solutions that meet their changing requirements. Northern Trust offers a full range of specialist private equity solutions supported by our robust technology and global presence."
The Carey Olsen team was led by Partner David Crosland and included Gemma Campbell, Chris Hutley-Hurst, Alexandria du Jardin and Asim Arshad.
Mr Crosland said: "Coller have a longstanding relationship with Guernsey but have historically chosen to domicile their fund vehicles elsewhere. It is testament to Guernsey's growing international profile and attractiveness to a global investor base that they chose Guernsey for their latest and largest fund."
For more information about Guernsey's finance industry please visit www.guernseyfinance.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
