Calpers, the world's largest public pension fund, has committed to Coller Capital's just-closed $2.5bn (€2.54bn) secondary private equity fund amid hopes that a more vibrant secondary market will help investors optimise their private equity portfolios.

The California Public Employees Retirement System (Calpers) is investing in Coller Capital for reasons of diversification and in the hope of good returns. But it also has a broader reason to support the growth of the secondary market.