The London office of US firm O'Melveny & Myers has taken the lead role for longstanding client Coller Capital on the $5.5bn (£3.5bn) final closing for its sixth private equity fund.

Coller VI, which exceeded its initial $5bn (£3.2bn) target, is thought to be the second-largest secondaries fundraising ever.

O'Melveny fielded a cross-border team of lawyers in London, the US and Asia, with City-based global investment funds chief John Daghlian taking the lead alongside of counsel Daniel Quinn.

Offshore firm Ogier also took a role on the deal, with a cross-jurisdictional team acting for Coller Investment Management. Ogier partners Roger Le Tissier and William Simpson led the Ogier Guernsey team alongside partner Nick Rogers in the Cayman Islands.

The news comes after Daghlian advised Coller VI on a number of transactions between first and final closing, including its $1.2bn (£768m) acquisition at the close of last year of Credit Agricole's private equity arm.

On that deal, Daghlian worked alongside O'Melveny London tax partner Jan Birtwell and Brussels antitrust partner Christian Riis-Madsen, while Ashurst advised Credit Agricole with a team led by Paris partner Xavier Comaills.

The final close of Coller VI comes after a flurry of activity in the funds market in 2011, with Linklaters winning a first-time appointment for Cinven on its planned €5bn (£4.3bn) fundraising.

2011 also saw Simpson Thacher & Bartlett's London funds heavyweight Jason Glover instructed to handle BC Partners' €4bn (£3.4bn) fundraising, as well as multibillion-euro roles for Apax and EQT Partners.

Earlier this year, Weil Gotshal & Manges, which last year hired a London funds team from Clifford Chance, was instructed on a high-profile fundraising for 8 Miles, the Africa-focused private equity house headed by Bob Geldof.