Coller Capital held the first close of Coller Capital Secondaries RMB I Fund, which has a target size of RMB 1.5 billion ($218 million).
The fund, CCRMB I, was the first secondaries fund to be denominated RMB to be sold in China with the support of local institutional investors, officials said.
“The launch of CCSRMB I is a further demonstration of Coller’s continued leadership and innovation in the global private markets industry, as we are the first global private capital secondaries firm to launch an RMB secondaries fund in China. It’s another first in secondaries for the Firm,” said Jeremy Coller, CIO and managing partner. “We look forward to developing deep relationships with investors and general partners in China for many years to come.”
Coller’s fund will focus on providing liquidity solutions in the private capital market in China leverage a team in Hong Kong, Beijing and Seoul. “With our large local team we look forward to partnering with our new institutional investors in China and providing solutions to both RMB denominated limited partners and general partners,” said Zhan Yang, general manager of Coller Capital’s Beijing office.
In February 2022, Coller closed its first private credit secondaries fund at $1.4 billion, a sum that it says is likely to be the world’s largest private credit secondaries fund.
“The launch of our first RMB fund enables Coller Capital to make high quality investments in the RMB denominated market in China,” said Peter Kim, partner and head of Asia.” The RMB secondaries market offers an exciting opportunity for the private capital industry in Asia.”