Coller Capital Acquires $1.6bn Lending Portfolio From American National

Coller Capital, known as the world's largest dedicated private market secondaries manager, has executed a landmark acquisition involving a $1.6 billion senior direct lending portfolio from American National, a U.S. insurer. Described as the largest LP-led credit secondaries transaction to date, this deal revolves around investments in LP positions across 44 U.S. credit funds with a focus on senior direct lending. This portfolio is comprised mainly of first lien and unitranche loans targeted at mid-market companies, with diversification across over 3,000 loans and nearly 1,500 primarily U.S.-based borrowers. Jefferies LLC provided advisory services to American National, while Debevoise & Plimpton LLP, Akin Gump Strauss Hauer & Feld LLP, and Simpson Thacher & Bartlett LLP served as legal advisors throughout the deal. Coller Capital’s comprehensive expertise, significant scale, and strategic execution were pivotal in realizing this transaction. The firm anticipates a growing trend in private credit secondaries as market capitalization gradually reconciles with deal demand. This acquisition further emphasizes Coller’s proficiency in structuring and deploying complex credit transactions, reinforcing its pioneering status and promising high-quality asset exposure for its investors.