Kelly to leave Adams Street

Adams Street partner Timothy Kelly is retiring from the fund of funds at year's end after 10 years.

Timothy Kelly, a partner with fund of funds Adams Street Partners, will retire from the firm in December 2013, Kelly confirmed. He plans to remain with Adams Street in 2014 as an advisor.

“I'm a believer that constant learning and application of what we learn in our lives is what keeps us young and vibrant,” Kelly said in an email. Kelly hopes to earn a PhD in psychology with a concentration in industrial/organisational psychology by year end.

Kelly has worked at Adams Street since 2003 and has been responsible for managing the firm’s relationships with several managers, including Clayton Dubilier & Rice, Birch Hill Capital, AnaCap Financial Partners and Odyssey Investment Partners.

Kelly specialised in buyout and growth capital, Latin America and mezzanine fund investments, according to Adams Street’s web site. He “actively participates” in all fund investment decisions, the web site said.

Prior to the firm, Kelly worked as a managing director at GE Equity from 2001 to 2003, and at Heller Financial from 1998 to 2001, according to his profile on LinkedIn. Prior to Heller, Kelly worked at Allstate from 1987 to 1998. He spent six years as a manager on the Chicago trading equity desk at Goldman Sachs from 1981 to 1987, according to his profile.