US private markets investor Adams Street Partners has opened an office in Hong Kong, expanding its Asia-Pacific footprint as regional institutions and family offices increase allocations to private assets.
The Chicago-based firm, which manages about $65 billion across private equity, private credit, and other strategies, said the new location will serve investors across the region and, once licensed, support local client coverage and deal sourcing.
Hong Kong becomes Adams Street’s sixth office in Asia-Pacific, alongside Beijing, Seoul, Singapore, Sydney, and Tokyo, bringing its global network to 15 offices. The firm invests in more than 30 countries and is fully employee-owned.
Jeffrey Diehl, managing partner and head of investments at Adams Street, said investors in the region are increasingly seeking tailored access to global private markets alongside local opportunities that have the potential to generate durable, long-term returns.
“This expansion brings our global network and disciplined investment approach closer to those clients,” he added.
Adams Street has been investing in Asia’s private markets for about two decades and is seeking to use a local base to stay closer to limited partners and managers as the fundraising environment becomes more selective.
“We’ve seen significant evolution in the Asia private markets ecosystem,” said Sunil Mishra, partner for primary investments. “Investors here place strong emphasis on quality, governance, and partnership.”
In October last year, Adams Street Partners 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.
