Adams Street Partners Raises Over $5B for Secondaries Program

Adams Street Partners has secured more than $5 billion in capital commitments for its latest secondaries investment program, including $2.7 billion for the closing of Global Secondary Fund 8. The program will pursue opportunities across limited partner-led and general partner-led transactions.

The fundraising was about 50% larger than Adams Street’s previous secondaries program and received commitments from new and existing institutional investors worldwide, the firm said.

“As the secondary market expands across both LP-led and GP-led transactions, investors need managers with deep relationships, underwriting rigor and global reach to navigate a broader opportunity set,” said Jeff Diehl, managing partner and head of investments at Adams Street.

Diehl said the firm believes its global platform positions it to source differentiated transactions and invest selectively on behalf of clients.

The fundraising adds to a series of recent capital closes across Adams Street’s private markets platform.

In May, the Chicago-based investment manager closed its sixth co-investment fund with $2.5 billion in global commitments. One month earlier, the firm completed fundraising for its Private Credit III program with $7.5 billion in committed capital.

Adams Street also launched its first publicly rated collateralized loan obligation earlier this year, raising $350 million for the vehicle.

The firm manages more than $73 billion in assets across private equity, private credit, secondaries, co-investments, growth equity and venture capital strategies for institutional and private wealth clients.