Adams Street Partners has launched ASPEN Lux, a Luxembourg-domiciled evergreen private equity fund aimed at expanding access to institutional-style buyouts for eligible wealth investors outside the US.

The fund follows the same portfolio construction and investment approach as the firm’s US-based ASPEN programme, targeting diversified small- and mid-market companies with a focus on technology and healthcare. Investments will be made through a combination of direct and indirect exposures across global private equity markets.

ASPEN Lux is structured as an open-ended vehicle, offering monthly subscriptions and quarterly liquidity, subject to restrictions. The fund is initially available in euro, sterling, and US dollar share classes, with a minimum subscription of €100,000, £100,000, or $100,000, depending on jurisdiction.

“ASPEN Lux represents the continued evolution of our evergreen solutions, enabling qualified investors across Europe, the UK, and Asia to participate in our global private equity platform,” said Jeffrey Diehl, managing partner and head of investments at Adams Street.

Jim Walker, partner and global head of wealth, said the vehicle responds to growing demand from investors seeking long-term capital appreciation and access to the same private equity opportunities available to institutions.

The launch underscores the continued push by private equity firms to scale evergreen structures as they compete for long-duration wealth capital amid more selective institutional fundraising.

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