Adams Street Partners spins out from Brinson Partners

Effective from 1 January 2001, Brinson Partners Inc. (a wholly owned subsidiary of UBS Asset Management) spun out its existing private equity investment group to form a new independent private equity firm, Adams Street Partners LLC. Brinson Partners has maintained a 24.9% ownership stake in the new organisation, with the private equity team holding the balance.

Following the spin-out, Adams Street Partners will no longer be subject to certain regulatory requirements that have previously governed its activities. The new entity operates from offices in Chicago and London and will continue to manage its existing private equity investments and client relationships. Adams Street and its predecessor organisations date back to 1972.

The private equity business of Adams Street began life as a direct investment outfit, before establishing a fund advisory operation. This advisory business evolved and the group launched its first fund-of-funds product in the early 1980s. In the US a separate team continues to make direct investments from dedicated fund pools and is currently raising a new fund of $400m; the direct investment team operates separately from the group’s fund-of-funds activities.

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• UK / Ireland