Adams Street raises $824m for global fund-of-funds

The fund received backing from both new and existing investors in the US, Europe, and Asia. This includes public and corporate pension plans, as well as high net worth individuals, foundations, and endowments.

"Our team continues to incorporate our latest qualitative and quantitative research into the construction of our global program portfolios to ensure that our approach remains at the forefront of an evolving market," Miguel Gonzalo, a partner and head of investment strategy and risk management at Adams Street, said in a statement.

Adams Street has offered a global program for private markets since 1996. Investment strategies include primaries, secondaries, co-investment, and growth equity. In October, the firm closed a global early-stage fund-of-funds known as Venture Innovation Fund II with $426 million in commitments. This compares to a raise of $202.5 million for the first Venture Innovation Fund in 2017.

Last year, Adams Street opened an office in South Korea, its 10th globally and fourth in Asia, hoping to expand access to clients and investment opportunities in the region. The firm's Asia presence also includes offices in Beijing, Singapore, and Tokyo. The region accounts for about 15% of $35 billion in assets under management, which includes all elements of its private equity strategy.

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• Topics
• LPs
• Fundraising
• Fund-of-funds
• Adams Street Partners