The $52 billion private markets manager Adams Street Partners closed its 2022 Global Fund Program at $1.1 billion in committed capital.
The Global Fund Program invests across the firm’s strategies including primaries, secondaries, co-investments, growth equity and private credit, across North America, Europe and Asia.
The fund close is larger than the $832 million raised for the Chicago-based firm’s 2021 Global Fund Program. The commitments were 20% higher than initial internal targets with strong uptake from both new and returning investors globally, officials said.
“In periods of market uncertainty, investors have historically looked for more reliable, risk-adjusted returns and strategic alpha generation with strong downside protection, which aligns with our targeted strategy for the Global Fund Program,” said Jeff Diehl, managing partner and head of investments at Adams Street. “We are grateful for the continued trust of our investors as we navigate the opportunities and challenges in the markets.”
The firm raised $823 million in 2020 for the multi-strategy program that dates back to 1996. The aim of the fund is to outperform public equity markets by 3-5% through a highly diversified global portfolio that allocates to the top-performing ideas across each of Adams Street’s strategies.