Coller Capital closed its Coller International Partners IV fund at...

Coller Capital closed its Coller International Partners IV fund at $2.5 billion, raising more than double its initial target of $1 billion. The fund invests in secondary partnerships, purchasing private equity partnerships as well as portfolios of direct investments from sellers that need to obtain liquidity before maturity. Investors in the fund include the $136 billion California Public Employees' Retirement System, Sacramento; $64 billion defined benefit plan of General Motors Corp., New York; and $40 billion Michigan State Bureau of Investment, Lansing.