State Street Investment Management has taken a minority stake in Coller Capital, one of the world’s largest private market secondaries firms, as it seeks to expand its private-markets and secondaries presence through partnerships with a specialist manager.
The deal will see the two firms collaborate across client segments to widen access to private equity and credit secondaries—a niche that rapidly grew to become a $160-billion market last year, with volumes projected to triple by 2030.
London-based Coller manages more than $46 billion in secondary assets across institutional and perpetual funds, while State Street oversees over $5 trillion globally. Under the agreement, Coller will retain full control over its investment process, with proceeds from the transaction reinvested into the business.
“Secondaries and private markets represent an important and growing opportunity,” said Yie-Hsin Hung, CEO of State Street Investment Management.
Jeremy Coller, founder and CIO of the eponymous firm, said the partnership would “broaden access to the secondaries market” and help investors unlock diversification and long-term returns.
Goldman Sachs advised State Street on the deal, while Morgan Stanley advised Coller.
