Key Takeaways
- • EQT acquires Coller Capital for $3.2 billion in an all-stock transaction, funded through newly issued ordinary shares at 355 Swedish crowns ($39.17) per share, marking the Swedish private equity giant's entry into the secondaries market.
- • Coller Capital brings approximately $50 billion in total assets under management to EQT, including $33 billion in dedicated secondaries funds, significantly expanding EQT's platform and infrastructure capabilities.
- • The deal reflects strategic positioning in a booming secondaries market, where global transaction volume hit a record $120 billion in the first half of 2025, demonstrating robust demand for secondary investments.
- • EQT's move prioritizes operational infrastructure and platform integration over pure AUM growth, leveraging Coller Capital's established secondaries expertise and client relationships to accelerate market penetration.
Summary
EQT, the Swedish-headquartered global private equity firm with approximately €270 billion in assets under management, has completed its acquisition of Coller Capital, a specialist UK-based secondaries investment firm, in a $3.2 billion all-stock transaction. The deal was funded through the issuance of new ordinary shares at a fixed price of 355 Swedish crowns ($39.17) per share, representing a significant strategic expansion for EQT into the high-growth secondaries market.
Coller Capital, one of the world's leading secondaries platforms, brings substantial scale to the combined entity. The firm manages close to $50 billion in total assets under management across its global secondaries operations, including $33 billion in dedicated secondaries funds. This acquisition provides EQT with an immediate, fully-formed infrastructure for entering and scaling its secondaries business—a market segment that has experienced explosive growth in recent years.
The timing of this acquisition underscores the robust fundamentals underpinning the secondaries market. Global secondaries transaction volume reached a record $120 billion in the first half of 2025, reflecting sustained institutional investor demand for secondary fund interests and continuation strategies. EQT's strategy with this acquisition focuses not merely on accumulating additional assets under management, but on acquiring Coller Capital's operational infrastructure, investment expertise, track record, and client relationships—assets that would be difficult and time-consuming to build organically.
For institutional investors and alternative asset allocators, this combination signals EQT's commitment to diversifying its platform across asset classes and strategies beyond traditional buyouts. The integration of Coller Capital's secondaries capabilities with EQT's broader distribution network and capital base positions the combined entity to capture significant market share in an increasingly competitive secondaries landscape, where scale, operational excellence, and deal-sourcing capabilities are critical competitive advantages.
Coller Capital, one of the world's leading secondaries platforms, brings substantial scale to the combined entity. The firm manages close to $50 billion in total assets under management across its global secondaries operations, including $33 billion in dedicated secondaries funds. This acquisition provides EQT with an immediate, fully-formed infrastructure for entering and scaling its secondaries business—a market segment that has experienced explosive growth in recent years.
The timing of this acquisition underscores the robust fundamentals underpinning the secondaries market. Global secondaries transaction volume reached a record $120 billion in the first half of 2025, reflecting sustained institutional investor demand for secondary fund interests and continuation strategies. EQT's strategy with this acquisition focuses not merely on accumulating additional assets under management, but on acquiring Coller Capital's operational infrastructure, investment expertise, track record, and client relationships—assets that would be difficult and time-consuming to build organically.
For institutional investors and alternative asset allocators, this combination signals EQT's commitment to diversifying its platform across asset classes and strategies beyond traditional buyouts. The integration of Coller Capital's secondaries capabilities with EQT's broader distribution network and capital base positions the combined entity to capture significant market share in an increasingly competitive secondaries landscape, where scale, operational excellence, and deal-sourcing capabilities are critical competitive advantages.
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.