Fairway Capital Management, a new Chicago-based firm founded by five former Adams Street Partners execs, launched the Fairway Private Equity & Venture Capital Opportunities Fund, a registered closed-end fund.
Open to qualified investors, the fund will offer exposure to venture capital and private equity investments through primary, secondary and co-investment strategies that are usually only available to large institutional investors.
Led by Kathy Wanner, Tom Gladden and Laura Milligan, the investment team has relationships with managers that go back decades. The team has worked together for over 15 years.
“At Fairway, we have invested with several established venture firms with highly recognizable franchises,” said Fairway Founding Partner and fellow Adams Street alum Kevin Callahan in a statement. “In addition, we have invested with some newer funds raised by experienced managers that we believe are well-positioned to deliver excellent performance.”
According to U.S. Securities and Exchange Commission documents, the original offering is slated to close at $500 million.
The fund is expected to offer access to many leading IT and healthcare venture capital funds as well as buyout and special situation private equity funds. Co-investments and secondaries will provide additional exposure to specific transactions and managers.
Ultimus is the fund’s administrator.