PRINT THIS PAGE Coller Capital acquires $90m private equity portfolio from Dresdner Bank
16/09/2004. Source: AltAssets. 
 The institutional restructuring unit of Dresdner Bank has agreed to sell a $90m private equity portfolio to Coller Capital. The portfolio consists of 22 companies from a broad range of sectors based primarily in the US.
'The sale is one more successful step in reducing the bank's exposure to non-strategic assets,' said Jan Kvarfstrom, chief executive officer of the institutional restructuring unit. 'We believe that the price achieved is full and fair and in line with our targets.''
Since the beginning of 2003, the institutional restructuring unit has reduced the non-strategic loan and private equity exposures of the bank from E35.5bn to E13.5bn. The bank's remaining exposure to private equity amounts to around E900m.
'We are delighted that upon closure, this transaction will be the eighth management spin-out that we have completed recently,' said Jeremy Coller, chief executive officer of Coller Capital. 'Our considerable experience of purchasing direct private equity assets and dealing with their related transition issues was essential to the success of this purchase.'
Coller Capital closed its fourth fund with a record $2.5bn in 2002. The firm has been involved in some of the largest transactions in recent years but is also always working on smaller transactions and the acquisition of portfolios of direct investments.
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