Coller Capital

Founder Jeremy Coller spent five years buying private equity fund stakes for a UK pension plan before launching Coller Capital in 1990 to do the same thing as an independent business — at the time, a market that barely existed. The firm is widely credited as the pioneer of LP-led secondaries: buying an investor's remaining stake in a private equity fund before that fund has finished paying out.

Coller completed its first GP-led transaction in 1996 and has since built one of the largest dedicated secondaries platforms globally, investing across buyout, venture, credit, and infrastructure fund stakes from offices spanning 11 cities.

In January 2026, Swedish private-markets group EQT agreed to acquire Coller Capital for up to $3.7 billion, forming a new "Coller EQT" business unit inside EQT's private markets platform. Jeremy Coller is set to continue leading the business and join EQT's executive committee, with Coller retaining independence over its own origination and investment decisions.

Two transaction shapes dominate. In an LP-led deal, an existing investor in a private equity fund — a pension plan, an endowment, an insurer — sells its remaining commitment and unfunded obligations, and Coller steps into that position for the rest of the fund's life. In a GP-led deal, the fund manager itself initiates the transaction, moving one or more portfolio companies into a continuation vehicle that Coller helps capitalise, giving existing investors the choice to cash out or roll forward. Both are portfolio-level transactions rather than purchases of individual company shares.

If you are an institution holding fund stakes you no longer want to carry, this is the kind of buyer your adviser will approach — and the price you are quoted will be expressed as a discount or premium to the fund's last reported net asset value, not as a valuation of any single company. If you are an employee or angel holding shares in one private company, a firm at this end of the market is not your counterparty; the marketplaces further down this directory are.

Independent firms whose entire business is buying LP fund stakes, GP-led continuation vehicles, or direct company positions — secondaries is not a side strategy, it is the strategy.

This site groups buyers into four categories, because the category tells you more about how a firm behaves than its size does. See the rest of thededicated secondaries specialistgroup in the directory.