In July, PEI reported on several changes happening inside Adams Street Partners following the departure of its then CIO Hanneke Smits, who announced she would be resigning at the end of this year. At that time, Kelly Meldrum, a partner in the firm’s Menlo Park, California office was promoted to head the primary investment team. Jeff Diehl, a partner from the venture capital group, also joined the executive committee. The firm said it would wait to assess fit internally before naming a new CIO.
As of today, Adams Street has appointed Meldrum to chair of the primary investment committee as Smits transitions out of her responsibilities.
Jeff Diehl has been promoted to head of investments, where he will be responsible for all elements of Adams Street Partners’ investment process including the teams and strategies, and will have ultimate responsibility for the investment performance generated by the firm. Diehl will also head up the portfolio construction committee joining Partners Miguel Gonzalo and Ray Chan.
Gonzalo will now assume the title of head of investment strategy. Gonzalo joined Adam Street Partner’s predecessor organization Brinson Partners/UBS in 1993 and joined the private equity group in 2000.
Chan will become head of risk management and advanced analytics. Chan joined the firm in 2003 after working eleven years at Brinson Partners/UBS.