Craig Emanuel
18 November, 2025


What do the secondary markets really teach us about value? How should investors think about illiquid assets today? Is it as simple as finding the most undervalued portfolio and bidding?
In this episode of The Exchange, EW&L Managing Partner Craig Emanuel sits down with Eric Foran, Partner at Coller Capital, to answer these questions and to explore how the secondary markets operate, what was learned through the GFC, and why the space continues to matter for sophisticated investors.
Eric is the Partner responsible for Coller Capital's origination and execution based in the firm’s New York office. Prior to joining Coller Capital in 2010, Eric was the Investment Management Division at Lehman Brothers based in San Francisco. Previously he worked in the Global Advisor Research and Institutional Consulting Groups at Morgan Stanley in New York.
Coller Capital is a global private equity firm specialising in secondary market transactions. Founded in 1990, their focus has been on acquiring interests in private equity funds, real assets, and other alternative investments. With a reputation as a leader in the secondary market, Coller Capital works with institutional investors, such as pension funds, endowments, and family offices, to provide liquidity solutions and portfolio management strategies.
Eric has a BS in Finance from the University of Tennessee and an MBA from London Business School. He is a CFA Charterholder.
Emanuel Whybourne & Loehr Pty Ltd (ACN 643 542 590) is a Corporate Authorised Representative of EWL PRIVATE WEALTH PTY LTD (ABN: 92 657 938 102/AFS Licence 540185).Unless expressly stated otherwise, any advice included in this email is general advice only and has been prepared without considering your investment objectives or financial situation.
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The information in this podcast series is for general financial educational purposes only, should not be considered financial advice and is only intended for wholesale clients. That means the information does not consider your objectives, financial situation or needs. You should consider if the information is appropriate for you and your needs. You should always consult your trusted licensed professional adviser before making any investment decision.
Emanuel Whybourne & Loehr Pty Ltd (ACN 643 542 590) is a Corporate Authorised Representative of EWL PRIVATE WEALTH PTY LTD (ABN: 92 657 938 102/AFS Licence 540185).Unless expressly stated otherwise, any advice included in this email is general advice only and has been prepared without considering your investment objectives or financial situation.
There has been an increase in the number and sophistication of criminal cyber fraud attempts. Please telephone your contact person at our office (on a separately verified number) if you are concerned about the authenticity of any communication you receive from us. It is especially important that you do so to verify details recorded in any electronic communication (text or email) from us requesting that you pay, transfer or deposit money, including changes to bank account details. We will never contact you by electronic communication alone to tell you of a change to your payment details.
This email transmission including any attachments is only intended for the addressees and may contain confidential information. We do not represent or warrant that the integrity of this email transmission has been maintained. If you have received this email transmission in error, please immediately advise the sender by return email and then delete the email transmission and any copies of it from your system. Our privacy policy sets out how we handle personal information and can be obtained from our website.


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