Wed, Aug 10, 2022
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Adams Street raises over $3bn for the second private credit program

Monday, April 18, 2022

Laxman Pai, Opalesque Asia:

Adams Street Partners, a global private markets investment manager, has completed fundraising for its second Private Credit program (PC II), closing the oversubscribed program with more than $2.1bn of committed capital and over $3bn, including leverage.

The independent employee-owned investment firm with more than $51bn of AUM said in a press release that Adams Street's PC II saw high demand globally, surpassing its original target of $1.5bn.

"Several pension plans, insurance companies, and family offices new to Adams Street invested in the program, in addition to strong representation from existing investors, said the release.

The close of PC II raises the total Private Credit strategy assets to $7.6 billion, including leverage, since Adams Street launched the inaugural Private Credit strategy in 2016.

"Adams Street's Private Credit Team is a lead lender to middle-market sponsor-backed transactions. Underlying investments within PC II currently have a loan-to-value ratio of less than 40% and an average debt multiple within 5X," the release added.

Bill Sacher, Partner, and Head of Private Credit said: "The strong demand for Adams Street's Private Credit offering shows the value of the asset class and the appetite in this market for investments that target high-yields while also prioritizing stable returns. Our team looks forward to continuing to work with our longstanding sponsor relationships."

"The strength of our Priva......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Other Voices: ESG exuberance is at all-time highs. But will investors buy?[more]

    As investors increase their focus on mission-based investing, they continue to grapple with ESG and what it means to them. By David Shalom, Director of Capital Introductions at Pershing Innovation. New investment solutions. That's how managers deliver value and attract new inve

  2. Alts managers sitting on over $2.5tn+ of dry powder[more]

    Laxman Pai, Opalesque Asia: In the current rising interest rate environment, investment activity in the private markets has continued to grow, revealed a study. "With alts managers sitting on over $2.5T+ of dry powder and continuing to enjoy premium valuations and interest rates on a prec

  3. Opalesque Exclusive: Hong Kong manager expects additional tailwind in Asian markets[more]

    B. G., Opalesque Geneva: The Asia equity markets have not been at their best so far this year, with the MSCI Asia index down almost 13% YTD, but many managers remain buoyant about the region, as in

  4. Opalesque Exclusive: Emerging markets persist despite headwinds[more]

    Bailey McCann, Opalesque New York: Emerging markets have been under significant pressure since the start of the year, but there are some nascent trends that suggest that things could be getting better. Emerging markets firm Gramercy Fund Management recently released its third quarter outlook and

  5. Opalesque Exclusive: Castle Hall's DiligenceExchange free Transparency Reports cover 100 managers with $10tn of assets[more]

    Matthias Knab, Opalesque for New Managers: Managers and investors can get free access to DiligenceExchange here: https://bit.ly/DXCInfo Castle Hall, the Du