Adams Street raises USD 1.1bn for 2022 Global Fund Program

The firm raised commitments 20% greater than the amount that it set for its initial target, it said in a statement.

Adams Street 2021 Global Fund announced its final close in December 2021 on USD 832m, as reported. 

Its 2020 Global Fund raised USD 823m, making the firm’s latest programme around a third larger than its recent vehicles in the series.

The GP raised USD 1.3bn for its fifth co-investment fund in September 2022, as reported. The firm has USD 52bn AUM and its other recent activity includes the launch of its private credit platform in Europe, as reported.

Investors
LPs in the fund include public and corporate pension plans, foundations and endowments, according to the press release. Registered investment advisers and high net worth individuals also expressed increased interest in the programme, the press release said.

According to Unquote Data, previous LPs in the Global Fund strategy include US foundation Air Force Aid Society (AFAS), as well as a series of US-based and UK-based pension funds.

Investments
The GP’s Global Fund Programme provides exposure to all of Adams Street’s private markets strategies, including primaries, secondaries, co-investments, growth equity, and private credit. It invests on a global basis, focusing on North America, Europe and Asia.

Adams Street's secondaries activity includes backing HPE Growth's EUR 160m continuation fund for payments platform PPro. It has backed managers including Verdane, Vitruvian and Waterland via its primary fund investments, according to Unquote Data.

People
Adams Street Partners – Jeff Diehl (managing partner, head of investments); Miguel Gonzalo (partner, head of investment strategy and risk management).

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