State Street Corp. (STT), Monday announced that it has made a strategic minority investment in Coller Capital, helping the former to expand into private markets by partnering with leading alternative asset managers.
The investment would help State Street Investment Management and its clients to benefit from access to Coller's extensive capabilities in private equity and private credit secondaries.
Notably, the proceeds from the transaction will be reinvested into the Coller business.
Concurrently, the companies have also agreed to collaborate across a variety of client segments to drive innovation and broaden each firm's reach.
In the pre-market hours, STT is trading at $115.66 on the New York Stock Exchange.
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