Adams Street raises $740m

The Chicago-based firm closes the 24th fund in its global, diversified private equity strategy program.

Adams Street Partners held a final close of Adams Street 2019 Partnership Fund Program, the firm’s yearly global fund, with $740 million in committed capital. The target was $800 million.

The firm’s prior global fund, Adams Street Partners 2018 Global Fund, had targeted the same amount and closed with $824 million in commitments one year ago, PEI data shows. The global fund program began in 1996.

The 2019 fund is diversified across region, sector and strategy, being set up to invest in fund-of-funds, growth equity, private credit, primary, secondary and co-investments in developed and emerging markets globally.

Commitments to the fund come from pensions, foundation, endowments and high net worth individuals across Asia, Europe, the Middle East and the United States, the firm said in a statement on Friday.