* Coller Capital raises $5.5 billion fund, beats targets
* Coller buys private equity stakes from banks, investors
* Has committed $800 million, sees full investment pipeline
LONDON, July 19 Coller Capital has raised $5.5
billion to buy private equity investments from banks and other
investors, tapping into a growing niche that has seen some of
the biggest pools of capital raised by buyout firms over the
As traditional private equity groups have found new capital
hard to raise and deals tough to find since the credit crisis,
firms like Coller and rival AXA Private Equity have seen their
market boom as private equity investors, including banks,
pension funds and endowments, sell assets to free up capital.
Coller said it raised $5.5 billion on Thursday, 10 percent
more than it initially targeted for its sixth so-called
"We have already committed $800 million of the new fund's
capital, and we have a very full pipeline of potential
investments," said chief investment officer and founder Jeremy
Coller was one of the first to specialise in buying
positions in private equity funds from investors, as well as
acquiring portfolios of stakes in private companies from their
More recently banks, selling off their private equity
interests in preparation for more stringent regulation, have
provided a rich seam of investment, and have helped a niche part
of the private equity industry grow.
AXA Private Equity, the private equity arm of the
French insurer, raised $7.1 billion for a new fund earlier this
year, more than double its initial target, and U.S. group
Lexington raised $7 billion last year.
AXA private equity expects between $40 billion and $50
billion of banks' private equity holdings to come up for sale
over the next couple of years, as financial institutions sell
off a wide range of holdings to free up capital.