20 Funds that matter
Kleiner Perkins Caufield & Byers II – 1980
KKR 1984 Fund – 1984
Clayton & Dubilier – 1984
Forstmann Little Equity III+ / Debt & Equity Buyout IV – 1986, 1987
Landmark Venture Partners – 1990
First three Apollo vehicles – 1990, 1992
Providence Media Partners – 1991
Advent VII (TA Associates) – 1992
Global Private Equity Fund II (Advent) – 1993
Candover 1994 Fund – 1994
Warburg Pincus Ventures – 1994
Permira Europe I – 1997
Coller International Partners II – 1998
RJH Industrial Partners – 1999
Silver Lake Partners I – 1999
CVC Capital Partners Asia Pacific – 2000
Index Ventures II – 2001
Carlyle Japan Partners – 2001
WLR Recovery Fund II – 2002
Blackstone Capital Partners IV – 2002
Seminal in secondaries
Coller takes liquidity to a new level
London-based private equity secondaries specialist Coller Capital started life humbly, its first fund (CIP I) comprising four investment entities that raised a total of $87 million between 1991 and 1996. Successor fund CIP II closed on $240 million in 1998, and was billed by founder Jeremy Coller as “the first specialist secondaries fund with a global mandate”.
Not content with achieving one new landmark, the fund then went on to achieve another when it led the $265 million purchase of Shell US Pension Trust’s private equity portfolio soon after the fund had closed. The deal was the largest private equity secondaries purchase that had completed at that point. It comprised positions in seven venture funds, five buyout funds and two mezzanine funds. In addition, the deal may have broken speed records: Coller said the deal was closed within a mere two and a half weeks. Coller’s funds subsequently went into the ten-figure territory, but not before the firm had proven its ability to handle very large private equity secondary transactions.
