Adams Street raises $2bn for secondaries

The investor has held a final close on $1.05bn for its secondaries fund Adams Street Global Secondary Fund 6, and will manage the rest of the $2bn in separate accounts for its LPs.

The vehicle was announced in March 2017 with a $1.2bn target and held a first close on $820m in June last year.

It will target funds that are towards the end of, or just out of, their investment period through a variety of transactions. Adams Street Global Secondary Fund 5 held a final close on $750m in 2013.

The secondaries team comprises 15 investment professionals and manages $6bn in assets.

Investors
The vehicle received commitments from a range of investors, including public pension funds from the UK (Cheshire, Leicestershire and Northamptonshire) and the US (Minnesota).

It was also backed by insurance companies, foundations, endowments, family offices and high-net-worth individuals from Europa, Asia and the US.

Investments
The fund will invest in a variety of secondaries transactions, including LP stake purchases, direct secondaries and GP-led deals, with ticket sizes of between $5-500m.

People
Adams Street Partners – Jeff Akers (partner).

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• Secondaries
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