Katrina Liao, Coller Capital: Women in Private Equity 2026

Katrina Liao of Coller Capital has demonstrated a career marked by significant contributions to the secondaries market. Despite an initial expectation of moving firms every few years, Liao has remained at Coller Capital for 15 years, citing continuous opportunities for learning and growth within the firm and the evolving industry. Her tenure has seen her involved in originating and executing substantial GP-led and single-asset transactions.

A notable achievement in Liao's career involved leading a landmark transaction in 2021 with MidEuropa Partners. This deal facilitated the integration of Regina Maria and MediGroup. The combined entity was subsequently acquired by CVC and Mehiläinen, with backing from Hellman & Friedman. This transaction was recognized as the largest of its kind in Central Europe at the time.

Liao's career trajectory also includes a recent move from London to the United States last summer. This relocation was driven by strong opportunities for origination and execution in the US market, building on her extensive network developed through her work in the continental European ecosystem. Her work there put her in contact with many GPs with US offices.

Her experience highlights the dynamic nature of the private equity secondaries market, which has undergone considerable changes since her entry into the field. The growth of the market has provided varied opportunities for professionals to specialize and advance within the same firm, adapting to new structures like continuation vehicles and complex multi-asset integrations.

This move by a seasoned professional like Liao to the US market underscores the increasing importance and growth of private equity activity in North America, particularly within the secondaries space. It suggests a continued trend of firms deploying experienced talent to key markets to capitalize on emerging opportunities and manage increasingly complex cross-border transactions.