London-headquarted Coller Capital has created a global private wealth secondaries solutions (PWSS) business to provide further access to private capital markets for high net worth individuals.
Coller Capital is an independent investor dedicated exclusively to investing in the private capital secondaries market, with $27.5bn (£22.3bn, €25.9bn) assets under management and more than 30 years of experience in the market.
PWSS will build on Coller’s existing global relationships with private banks, wealth managers and investment advisers to distribute the products it creates and manages for this channel.
According to Investopedia, in secondary markets investors exchange with each other rather than with the issuing entity.
Management team
The PWSS team will be led by Jake Elmhirst, who joined Coller Capital as a partner in the investor relations team in 2022.
He spent 25 years at UBS, most recently as managing director in their private markets unit for its global wealth management division.
Within the PWSS team, Elmhirst is joined by two long-standing Coller Capital investment team members, Jon Freeman, a partner in the CIO office with 26 years’ service; and Mark Hindriks, who becomes the chief operating officer of PWSS and has been with Coller for 13 years.
In the US, product distribution will be led by co-heads of PWSS distribution, Jonathan McEvoy, formerly with Morgan Stanley, and Alana Montanari, formerly with Ironwood Capital Management, with support from Daniel Murphy who joined from Bank of America Merrill.
‘Logical next step’
Jeremy Coller, chief investment officer and managing partner at Coller Capital, said: “As part of our strategy to make Coller Capital the leader in added-value secondary solutions we want to open private markets up to the widest possible range of investors across the globe.
“With high net worth allocations to alternatives expected to almost double in the next five years, giving easier access to the same opportunities as their institutional counterparts is a natural evolution of the market and a logical next step for us.”
Elmhirst added: “As a pioneer and market leader in secondaries Coller provides an incredible opportunity for the team to build relevant solutions for high net worth investors globally.
“Secondaries are a natural place for high net worth investors to invest, given they provide the ability to gain exposure to a diversified portfolio and target attractive absolute and risk-adjusted returns.”
