Adams Street Secures $3.2B for Secondary Investment Program
Adams Street Partners LLC, a private markets investment firm with more than $54 billion in assets, raised more than $3.2 billion for its Secondaries Investment Program, including the close of Global Secondary Fund 7.
Launched in February 2021, the latest Secondaries Investment Program, which comprises the commingled Global Secondary Fund 7 and several separate accounts tailored to specific investors, is 50% larger than the Chicago-based firm’s previous fundraise, which included the close of Global Secondary Fund 6, raising the firm’s total secondaries strategy assets to $8.2 billion.
“Demand for our Global Secondaries Investment Program demonstrates the trust that investors have in Adams Street’s secondaries investment strategy,” said Jeff Akers, Partner and Head of Secondary Investments. “The aggregate fundraise exceeded our expectations and leaves the team well positioned to capitalize on our strategy in today’s evolving market.”
Between 40 and 60 transactions of $20 million to $40 million each will be invested by the fund. Fund 7 has made 19 investments as of the end of September 2022, and three more deals were still pending.
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