(Sharecast News) - Swedish private equity firm EQT said on Thursday that it has agreed to buy secondaries firm Coller Capital for up to $3.7bn

Founded in 1990, Coller Capital has nearly $50bn in total assets under management and is one of the largest dedicated secondaries firms globally. The business provides liquidity solutions to general partners and limited partners, investing across private equity secondaries and private credit secondaries.

Headquartered in the UK, Coller Capital has a global team of 330 professionals, including 77 investment professionals, based in 11 offices around the world.

Per Franzén, chief executive and managing partner of EQT, said: "Entering the secondaries space with Coller represents a natural and important step in EQT's strategic development. Secondaries have become an increasingly important tool for clients in managing liquidity and portfolio construction, and in supporting long-term ownership of high-quality assets.

"Coller is a global leader in this field, with deep expertise. The transaction unlocks growth opportunities for both firms. Together, I believe we can double the size of Coller's business in less than four years. As a combined firm, we will be exceptionally well positioned to deliver integrated solutions across both primary and secondary markets, underpinned by a disciplined focus on performance."

The deal is expected to close in the third quarter of this year.