Adams Street Partners has opened its first office in continental Europe and hired a business development professional to expand business relationships there, Private Equity International has learned.
Martin vom Hagen has joined the private markets investment firm as a partner and will lead the newly-opened Munich office, according to a statement obtained exclusively by PEI. Vom Hagen will focus on the development of institutional client and consultant relationships within Germany, Austria and Switzerland as the firm expands its efforts in the region.
“Being ‘on the ground’ in Munich enables us to provide our clients with a geographically relevant perspective on private markets,” said Jeff Diehl, managing partner at Adams Street. The firm has managed private market programmes for institutional investors in Germany and Switzerland since 1998.
Vom Hagen will report Kevin O’Donnell, the firm’s global head of business development and investor relations. He joins from investment management and research firm AllianceBernstein where he led its relationships with institutional investors, intermediaries, funds of funds, banks and family offices in Germany, Luxembourg, and Austria. Prior to that, Vom Hagen held positions at AXA Investment Managers and Commerzbank.
Adams Street is seeking capital for at least 11 funds including $1.2 billion for its flagship secondaries programme, Adams Street Global Secondary Fund 6, $500 million for Adams Street Private Credit Fund and an undisclosed amount for Adams Street 2017 Global Fund, a fund of funds.
Munich brings Adams Street’s global office count to nine after London, Boston, Chicago, Menlo Park, New York, Beijing, Singapore and Tokyo.
The firm has $30 billion in assets under management across primary and secondaries private equity fund investments, co-investments, private credit, and direct venture and growth strategies.