Adams Street Partners will dedicate as much as one quarter of its latest global fund of funds programme to secondaries investments.
The Chicago-headquartered firm collected around $740 million in capital commitments for Adams Street 2019 Partnership Fund Program in a final close, according to a statement. Adams Street typically targets between $700 million to $800 million for its annual global programme, a spokesman confirmed.
Around 18 percent to 25 percent of the fund will invest in secondaries, he added.
Investors in the programme span the US, Europe, the Middle East and Asia, and includes public and corporate pension plans, high-net-worth individuals, foundations and endowments.
The vehicle will invest in primaries, secondaries, co-investments, growth equity and private credit.
In June Adams Street held the final close on its sixth dedicated secondaries programme on $1.05 billion, in addition to raising around $1 billion via separately managed accounts.
Read our July Q&A with Adams Street’s head of secondary investments Jeff Akers and partner Pinal Nicum here.