State Street Investment Management has taken a minority stake in Coller Capital, one of the world’s largest secondary market investment firms, as it looks to strengthen its position in private markets and give clients broader access to alternative investment opportunities.
The firms said Monday that the partnership combines State Street’s global scale, with more than $5 trillion in AUM across 60 countries, and Coller’s long standing expertise in private equity and private credit secondaries.
The collaboration is intended to spark new product innovation and help both firms reach a wider investor base.
“Across the industry, institutional investors and the individual clients they serve need diversification and differentiated investment options, and secondaries and private markets represent an important and growing opportunity,” explains Yie-Hsin Hung, State Street Investment Management’s CEO. “This investment and strategic relationship – bringing to our clients the leading secondaries capabilities that Coller has pioneered – exemplifies our broader commitment to clients to provide innovative solutions and better outcomes.”
Founded in 1990, London-based Coller Capital manages about $46 billion in private market secondaries and is considered a pioneer in the space, which allows investors to buy and sell stakes in existing private equity and private credit funds. In recent years, the firm has expanded its investor base through perpetual vehicles for qualified individual investors alongside its institutional funds.
The secondary market for private assets has grown rapidly as investors seek liquidity and flexibility. More than $160 billion in transactions were completed in 2024, representing a 16% annual growth rate over the past decade, and the volume is expected to approach $500 billion by 2030, according to Coller.
State Street said the investment will not affect Coller’s day-to-day management, and proceeds will be reinvested into the firm. Financial terms of the transaction were not disclosed.
Meanwhile, State Street Investment Management is reported to be in talks to buy a stake in an unnamed Indian mutual fund, according to Bloomberg.
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