VIDEO: Adams Street Partner's T. Bondurant French

Chicago-based French tells AVCJ TV that 40-50% of the firm's allocation is outside the US, and "roughly two-thirds of that is allocated to Europe and one-third in Asia."

In Asia, Adams Street classifies China as an emerging market, and gives the market substantial clout in that category. "By our definition worldwide, ‘emerging' now includes Russia, Brazil, India, China and markets like this. South Africa is an example of where we've made a recent investment. Emerging markets take roughly 10% of our total, and a large share of that is in China. About half of that is in China," he says.

Additionally, French said that global megafunds have become more appealing over the course of the financial crisis. Though he once steered clear of the vehicles he found that , "a year or so ago during the crisis, a lot of LPs needed liquidity and they were selling at enormous discounts their more recent investments in mega funds. We made a huge number of purchases there of buyout funds in a space that we had previously underweighted - just at a later time when there wasn't totally a blind pool - and at big discounts."

To read more on French's thoughts on the industry, see AVCJ's Q&A.

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