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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......................

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