Key Takeaways
- • Coller Capital, one of the world's leading secondaries investors with 35 years of expertise, entered China's private equity secondary market in 2008 and established formal local presence in Beijing in 2021 to expand RMB and Asia-Pacific secondaries activities.
- • China's private fund industry has entered a new development stage emphasizing quality and efficiency, formalized by the September 1, 2023 Regulations on the Supervision and Administration of Private Investment Funds, which have driven growth in M&A funds, secondary market funds (S Funds), and real estate funds.
- • YANG Zhan, Head of Investments at Coller Capital and General Manager of the Beijing office, characterizes China's private equity secondary market ecosystem as moving toward maturity, positioning the market for institutional-grade secondaries investment and liquidity solutions.
- • Coller Capital's global platform spans offices in London, New York, Hong Kong, Beijing, Seoul, and Luxembourg, providing institutional and private investors with liquidity solutions across private equity, private credit, and other private market-related assets.
Summary
Coller Capital, a London-headquartered firm founded in 1990 and widely recognized as an innovator in the secondaries market, has deepened its engagement with China's private equity secondary market as the ecosystem matures toward institutional-grade standards. The firm made its initial investment in China in 2008 and maintained active market presence for over a decade before establishing formal local infrastructure. This strategic commitment culminated in the opening of Coller Capital's Beijing office in 2021, marking a critical milestone as the firm sought to strengthen on-the-ground engagement with Chinese general partners, limited partners, and financial regulators.
The maturation of China's secondaries landscape has been accelerated by regulatory infrastructure improvements. On September 1, 2023, the Regulations on the Supervision and Administration of Private Investment Funds took effect, establishing a formal supervisory framework for the private fund industry. This regulatory clarity has catalyzed the growth of specialized fund products, including M&A funds, private equity secondary market funds (S Funds), and real estate funds, reflecting the industry's transition toward both quality and operational efficiency. YANG Zhan, Head of Investments at Coller Capital and Executive Director of the Beijing office, has identified this ecosystem evolution as a defining characteristic of the current market cycle.
Coller Capital's business model centers on acquiring interests in private equity, private credit, and related private market assets to provide liquidity solutions for institutional and private investors navigating the secondary markets. The firm operates through a global cross-border investment platform encompassing offices in London, New York, Hong Kong, Beijing, Seoul, and Luxembourg. This geographic footprint enables Coller to capture opportunities across multiple regional secondaries markets while leveraging standardized operational capabilities and risk management frameworks developed over three and a half decades of investing in secondary assets worldwide.
The maturation of China's secondaries landscape has been accelerated by regulatory infrastructure improvements. On September 1, 2023, the Regulations on the Supervision and Administration of Private Investment Funds took effect, establishing a formal supervisory framework for the private fund industry. This regulatory clarity has catalyzed the growth of specialized fund products, including M&A funds, private equity secondary market funds (S Funds), and real estate funds, reflecting the industry's transition toward both quality and operational efficiency. YANG Zhan, Head of Investments at Coller Capital and Executive Director of the Beijing office, has identified this ecosystem evolution as a defining characteristic of the current market cycle.
Coller Capital's business model centers on acquiring interests in private equity, private credit, and related private market assets to provide liquidity solutions for institutional and private investors navigating the secondary markets. The firm operates through a global cross-border investment platform encompassing offices in London, New York, Hong Kong, Beijing, Seoul, and Luxembourg. This geographic footprint enables Coller to capture opportunities across multiple regional secondaries markets while leveraging standardized operational capabilities and risk management frameworks developed over three and a half decades of investing in secondary assets worldwide.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.