HONG KONG and SHANGHAI, Aug. 3, 2021 /PRNewswire/ — Coller Capital (“Coller”) and Ping An Overseas Holdings together with its subsidiaries (“Ping An”), the main offshore investment and asset management platform of Ping An Insurance (Group) Company of China, Ltd., have closed one of the world’s largest private credit secondaries transaction for a credit portfolio managed by Ping An.
Coller investment and co-investment vehicles are investing $580 million of a total transaction value of $680 million. An Asian institution is investing $100 million alongside Coller. Following the closure of the transaction on 30th July 2021, Ping An will continue to manage the portfolio.
The portfolio comprises four flagship credit funds managed by blue-chip North American and European managers. It is highly diversified, covering 400 positions in over 250 companies and spread across a range of industries, including professional services, healthcare and telecommunications.
“This is the world’s largest private credit secondaries transaction and exactly the kind of complex investment opportunity in which Coller Capital specialises,” said Jeremy Coller, CIO of Coller Capital. “We know the team at Ping An well, and we look forward to working closely with them in the development of this exciting portfolio.”
Hoi Tung, Chairman & CEO of Ping An Overseas Holdings, said, “We are delighted with the successful close of this landmark transaction. Over the past few years, we have seen strong growth in investor interest in credit funds, which have proven to be a source of sustainable income for investors despite market turbulence. By working with leading credit fund managers around the globe, we will continue to find attractive investment opportunities and deliver value to our partners and clients.”
About Coller Capital
Coller Capital, founded in 1990, is one of the world’s leading investors in the secondary market for private assets – and widely acknowledged as an innovator at the complex end of secondaries.
The firm provides liquidity solutions to private markets investors worldwide, acquiring interests in private equity, private credit, and other private markets assets. With headquarters in London, and offices in New York and Hong Kong, Coller’s multinational investment team has a truly global reach.
In January 2021, the firm closed Coller International Partners VIII, with committed capital (including co-investment vehicles) of just over $9 billion and backing from over 200 of the world’s leading institutional investors.
About Ping An Overseas Holdings
China Ping An Insurance Overseas (Holdings) Limited is a direct wholly-owned subsidiary of Ping An Insurance (Group) Company of China, Ltd. (HKEX: 2318; SSE: 601318).
We have strong offshore investment research and portfolio management capabilities and are committed to providing clients with a wide range of overseas investment products, asset management and consulting services. We offer capital markets investment services including open-/closed-end funds, ETFs and mandates in equity, fixed income, funds of hedge funds, and AI and quantitative investments, and alternative investment services including funds, co-investments and direct investments in global (mainly US and Europe) private equity, private debt, infrastructure and real estate.