EQT Acquires Secondary Market Specialist PEF Coller Capital for $3.2 Billion

Rebranded as "Coller EQT"
Expanding from Private Equity, Infrastructure, and Real Estate to the Secondary Market

EQT Partners, a global private equity fund (PEF) manager headquartered in Sweden, is acquiring Coller Capital, a secondary market-focused PEF, for $3.2 billion (approximately 4.7 trillion won). The secondary market refers to a strategy of investing in assets held by other PEFs.

On January 23, EQT announced that it had signed an agreement to acquire 100% of Coller Capital's shares. After the transaction is completed, Coller Capital will form a new business division within EQT under the brand name "Coller EQT." Coller Capital manages total assets under management (AUM) of about $50 billion (approximately 73.35 trillion won), with fee-generating AUM at around $33 billion (approximately 48.7 trillion won).

EQT logo.

Founded in the United Kingdom in 1990, Coller Capital is a global leader that has driven the secondary market for 35 years, providing liquidity solutions to both GPs and LPs across private equity secondaries and private credit secondaries. Coller Capital has offices in the Asia-Pacific region, including Hong Kong, Singapore, Beijing, Seoul, Tokyo, and Melbourne.

EQT noted that the secondary market grew 41% year-on-year to $226 billion in transaction volume in 2025, and projected that the market size will more than double by 2030. Secondary deals enable investors to dispose of unwanted assets within a fund, or allow PEFs to retain investment assets even after the typical exit period. With this combination, EQT aims to build a platform that spans private equity, infrastructure, real estate, and now the secondary market.

The organizational structure will involve establishing a separate platform under "Coller EQT." Jeremy Coller, Chief Investment Officer (CIO) and Managing Partner, will serve as the Head of Coller EQT, reporting directly to the EQT CEO, while Coller's originations and investment decisions will maintain their independence.

Coller Capital was also involved in the 2022 replacement of the Ssangyong C&E fund by Hahn & Company. When Hahn & Company created the Ssangyong C&E continuation fund, Coller Capital formed a consortium and participated as the largest LP in the fund. Domestic institutional investors, including the Teachers’ Pension, have also invested in Coller Capital's funds.