Adams Street raises over $1.1b for debut private credit program

Photo: Chicago, US/ Erol Ahmed/Unsplash

Chicago-headquartered private equity firm Adams Street Partners has completed fundraising for its inaugural private credit program after securing approximately $1.1 billion in capital, including leverage.

Adams Street said that its private credit program saw strong demand from institutional investors worldwide, with commitments from both new and existing investors in the United States, Europe, and Asia. Backers included public and corporate pension plans, insurance companies, foundations, family offices and high net worth individuals, per a statement.

Adams Street’s private credit investment strategy provides financing solutions to sponsor-backed middle-market companies across capital structure, including first lien loans, revolvers, unitranche facilities, second lien loans, mezzanine debt, and preferred equity.

Its team, which consists of ten investment professionals, has deployed approximately $500 million across 22 investments since the strategy’s launch.

“We were pleased to receive such strong support for our investment strategy,” said Bill Sacher, Partner and Head of Private Credit, Adams Street Partners. “Our experience investing across cycles and our focus on capital preservation has resonated with investors looking to generate attractive risk-adjusted returns.”

Adams Street Partners is one of the largest and most established private markets investment management firms in the world.

The firm commenced its investment program in 1972 and manages more than $37 billion of assets across five strategies – primary and secondary private fund investments, co-investments, private credit investments, and direct growth equity investments.

Adams Street also has a presence in Asia with offices in Singapore, Beijing, Tokyo and Seoul.