State Street Corporation (NYSE:STT) has been appointed by Coller Capital to provide a comprehensive array of services across fund administration and accounting, custody, depositary services, currency management and transfer agency.
Coller Capital is the largest independent investor dedicated exclusively to investing in the private capital secondaries market, with US$33 billion assets under management and more than 30 years of experience in the market.
Jake Elmhirst, Head of Private Wealth Secondary Solutions at Coller Capital, said:
“Opening up private markets to a wide and global investor base, including private wealth investors, is an important part of our strategy. Our parallel fund vehicles offer investors in and outside of the US the opportunity to invest in the same assets within the private markets universe. We are delighted to collaborate with State Street on these new products, their experience in this fund structure and its global reach can help ensure our success.”
The full service appointment follows State Street’s initial work with Coller Capital on the US launch of its innovative global Private Wealth Secondaries Solutions (PWSS) business in
February 2024, which provides high-net-worth individuals further access to private capital markets.
As part of this relationship, State Street partnered with Coller Capital on its launch of two Luxembourg-domiciled funds focused on private equity and private credit secondaries strategies.
