Chicago-based investment manager Adams Street Partners has announced the final closing of its 2024 Global Fund Program, securing $1.1 billion in committed capital, a notable 34% increase from the predecessor vehicle.
Adams Street had closed the 2023 Global Fund Program at $820 million, 25% smaller than the 2022 programme that had gathered $1.1 billion in commitments.
The Global Fund Program provides access to small- to mid-sized private companies through a targeted global private equity portfolio. Across North America, Europe, and Asia, it provides exposure to Adams Street’s investment strategies, including primaries, secondaries, co-investments, growth equity, and private credit.
According to the release both new and existing investors were represented in the global set of public, corporate and Taft‐Hartley pension plans, along with high-net-worth individuals, insurance companies, foundations, and endowments.
“The Global Fund Program has thrived through various market cycles, and we are optimistic about the opportunities ahead in private markets. We value the trust and confidence of our clients and will work to exceed their expectations,” said Jeffrey Diehl, Managing Partner & Head of Investments at Adams Street in the company release.
Adams Street first implemented the Global Fund Program in 1996 as a conduit for private equity investors seeking deployment flexibility. The Global Fund Program aims to outperform public equity markets by 3‐5% through a targeted global portfolio that incorporates some of the top‐performing ideas across each of Adams Street’s strategies.
It will celebrate its 30th anniversary in 2025.
Miguel Gonzalo, Partner and Global Head of Investment Strategy and Risk Management at Adams Street, stated that with growing demand for exposure to private markets, the Global Fund Program remains appealing to a broad and diverse investor base.
He emphasised that the programme’s portfolio construction is designed to offer additional diversification beyond a single fund investment, while still aiming to deliver attractive upside potential.