Adams Street Establishes $7.5 Billion Private Credit Fund

Total Private Credit AUM Rises to $15 Billion

Adams Street Partners (ASP), an overseas private investment management firm overseeing more than $65 billion (approximately KRW 95 trillion) in assets, has established a $7.5 billion private credit fund.

On the 17th, ASP announced that it has successfully launched its third private credit platform, which includes this third private credit fund.

The total committed capital, including leverage, is $7.5 billion. Approximately 40% of the total commitments were raised from investors outside the United States.

With the establishment of this fund, ASP's total assets under management in the private credit sector have increased to $15 billion (approximately KRW 22 trillion). Since entering the sector in 2016, ASP has steadily scaled up, making private credit the second-largest investment sector in its overall portfolio.

ASP primarily provides senior financing to small and mid-sized enterprises acquired by private equity funds. Both of the previous private credit funds have delivered relatively consistent and solid performance. The investments in the third fund meet ASP's credit standards, including: a loan-to-value (LTV) ratio below 40%, an average debt multiple of approximately five times, and strong creditor protections such as maintenance covenants.

Jeff D.L. Adams, Managing Partner and Chief Investment Officer at Adams Street Partners, stated, "Adams Street's private credit strategy maintains a unique competitive edge in the market, built on rigorous due diligence, systematic review, and long-standing partnerships," and emphasized, "With exceptional deal sourcing and investment review capabilities, the firm is poised to deliver differentiated results going forward."

Jeff D.L. Adams, Managing Partner and Head of Investments at Street Partners

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