Adams Street Partners raises $740m for 2019 global fund

Yar-Ping Soo, Partner, Adams Street Partners at DealStreetAsia's Asia PE-VC Summit 2019 in Singapore.

Adams Street Partners, a Chicago-headquartered investment management firm with $40 billion in assets under management, announced that it has raised about $740 million in capital commitments for its 2019 global fund.

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 close of the said fund capped Adams Street’s fundraising activities this 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.

In June, Adams Street closed its Global Secondary Fund 6 with about $1.05 billion in capital commitments. Its Private Credit Fund I raised $1.1 billion in May while Adams Street Growth Equity Fund VII held a first close in April after securing an undisclosed amount.

In a statement, the firm said Adams Street 2019 Partnership Fund Program received demand from investors worldwide, with commitments from both new and existing investors in the United States, Europe, the Middle East, and Asia. The diverse array of investors included public and corporate pension plans, high net worth individuals, foundations, and endowments.

“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 at Adams Street.

Founded in 1972, Adams Street Partners manages assets across five strategies – primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments.

The firm has investments in more than 30 countries on five continents. It has offices in Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Seoul, Singapore, and Tokyo.

In an earlier interaction with DealStreetAsia, Yar-Ping Soo, a partner in the Primary Investments team at Adams Street Partners, said she expects 2020 fundraising to continue to be subdued, after a moderate 2019.

“GPs’ fundraising pipeline is still active in 2020 and although LPs remain interested in the growing number of high-quality managers in Asia, market sentiment has become more cautious in general,” she said.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.