Private markets manager Coller Capital has been acquired in a US$3.2 billion deal by global private equity firm EQT.
The transaction, which is expected to completed in the third quarter of 2026, will see Coller form a new business platform within EQT to be branded as Coller EQT.
This will form part of EQT’s new secondaries business segment alongside its existing private capital and real assets segments but the origination and investment process will remain independent.
Coller Capital chief investment officer and managing partner, Jeremy Coller, will head up the new division and report to EQT chief executive Per Franzen as well as join its executive committee.
Founded in 1990, Coller is a leader in private market secondaries with US$50 billion ($73 billion) in assets under management (AUM) but EQT is hopeful of increasing this to US$100 billion in less than four years.
Coller said: “We are bringing more than 35 years of secondaries expertise to EQT to realise our shared ambition to shape the future of private markets. The opportunities ahead are compelling, from accelerating innovation in secondaries, to broadening the secondary solutions we can deliver to investors worldwide.
“As Coller EQT, we will maintain our strong alignment with our investors and the independence of our world class origination and investment process. Together, we are exceptionally well positioned to deliver best in class private market solutions for our investors.”
EQT is based on Sweden and is the world’s second-largest private equity firm behind KKR with €270 billion in assets ($464 billion).
Franzen added EQT’s decision to enter the secondaries market stems from an awareness that they are becoming an important client tool for portfolio construction.
“Entering the secondaries space with Coller Capital represents a natural and important step in EQT’s strategic development. Secondaries have become an increasingly important tool for clients in managing liquidity and portfolio construction, and in supporting long-term ownership of high-quality assets. Coller is a global leader in this field, with deep expertise.
“The transaction unlocks growth opportunities for both firms. Together, I believe we can double the size of Coller’s business in less than four years. As a combined firm, we will be exceptionally well positioned to deliver integrated solutions across both primary and secondary markets, underpinned by a disciplined focus on performance.”
Last year, State Street Investment Management took a minority stake in Coller Capital.
Through this partnership, State Street IM said its clients will gain access to Coller’s private equity and private credit secondaries capabilities. Meanwhile, the investment and relationship will support Coller’s long-term growth strategy and expand access to secondaries to a broader range of investors and markets.
