Coller often boasts about being “first in secondaries” in their marketing – the firm has indeed pioneered investing in secondaries and is currently one of the biggest secondaries platforms globally. This is an area where private markets innovation meets growing investor demand for yield, liquidity, and diversification. Due to their shorter hold, and large degree of diversification, secondaries are a particularly attractive asset class for “retailization”. Therefore it is no surprise that many secondary fund managers are now looking at evergreen, semi-liquid structures to tap into the wealth channels.
CollerCreditis Coller’s latest addition to their evergreen products. It is sharply focused on senior direct lending secondaries, which means it primarily buys existing senior secured loans on the secondary market.
- 85% allocation to “direct lending” (through secondary purchases), offering exposure to seasoned, high-quality, cash-yielding assets.
- Secondary credit exposure allows quicker capital deployment
- Secondary credit also spans multiple vintages, managers, and sectors, heavily reducing single-risk concentration.
CollerCredit is diversified in both geography and industry:
Approximately 60% North America, 40% Europe, with insignificant amounts of Asia exposure. This broadly reflects the size of the secondaries markets, as the US is still much bigger than Europe for this particular market.
Key sectors: IT (24%), Healthcare (13%), Industrials (15%), with the rest in other.
This mix ensures broad diversification, and reduces exposure to a single geography or single sector.
Unlike traditional private credit funds, CollerCredit is open-ended, with monthly subscriptions and quarterly redemptions (5% NAV cap)—providing rare liquidity in an illiquid asset class.
No performance fees (0% carry).
Management fees as low as 1.5% for some share classes.
Minimum investment is €50,000, available in USD, EUR, and CHF.
Final Verdict
Though relatively new, CollerCredit is able to leverage Coller Capital’s deep experience in secondaries and robust deal pipeline. It’s structured as a Luxembourg SICAV, suitable for EU investors with current retail access through distributors, although it is likely that bigger tickets can be welcomed directly without a distributor.
CollerCredit is a compelling option for accredited investors looking to diversify into private credit secondaries with better-than-average liquidity. Credit secondaries are a relatively new market, but are set to grow in line with the growth trajectory of private equity secondaries one or two decades ago. It combines the advantages and stability of quality credit with the more revolving and liquid nature of secondaries, all with a top tier fund manager, Coller Capital.