Adams Street Closes on $740 Million for Partnership Fund

The final tally for the Chicago-based firm’s latest fund of funds caps off a busy fundraising year that brought in more than $2 billion

Chicago-based private markets investor Adams Street Partners is capping a busy fundraising year with a $740 million closing of its latest annual global partnership fund.

The investment management firm with $40 billion in assets under management said that the Adams Street 2019 Partnership Fund Program will offer exposure to all of the firm’s investment strategies, including primaries, secondaries, co-investments, growth equity, and private credit.

The final tally for the Adams Street 2019 Partnership Fund Program came in lower than the $824 million that the Chicago-based firm raised for the strategy last year, which brought in nearly $3 billion in capital commitments.

The $740 million raised for the 2019 global fund, however, is less than the $824 million the firm raised for the strategy last year.

“We’re pleased to see ongoing demand from current clients and new investors in our global fund program, which continues to incorporate cutting-edge research and risk management in the development of comprehensive, globally diversified private equity portfolios,” said Miguel Gonzalo, Partner and Head of Investment Strategy and Risk Management.

“Adams Street’s ability to access risk-adjusted investments across the private markets is well aligned with investors’ continued search for attractive risk-adjusted returns in the current low yield environment,” Gonzalo said.

In 2019, Adams Street also announced the final closing of the Adams Street Global Secondary Fund 6 with approximately $1.05 billion in capital commitments, as well as the completed fundraising for its inaugural Private Credit program with approximately $1.10 billion of capital available to deploy, including leverage.

Source: The Wall Street Journal

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