Adams Street Secures $5 Billion for Secondaries Fund Amid Record Market Growth
Event summary
- Adams Street Partners closed its Global Secondary Fund 8 at $2.7 billion, part of a $5 billion secondaries investment program.
- The fundraise is 50% larger than the firm’s previous secondaries program.
- Evercore estimates secondary deal volume reached $226 billion in 2025, exceeding $200 billion for the first time.
- Adams Street manages $73 billion in assets under management (AUM) as of July 2026.
The big picture
Adams Street’s $5 billion secondaries fundraise reflects the growing importance of liquidity solutions in private markets. The firm is positioning itself to capitalize on record secondary deal volumes, leveraging its global reach and underwriting rigor to source differentiated opportunities. This strategic move underscores the broader trend of institutional investors increasingly turning to secondaries for portfolio management and liquidity.
What we're watching
- Market Expansion
- Whether Adams Street can sustain its growth as the secondary market continues to expand across LP-led and GP-led transactions.
- Investor Demand
- How rising transaction volumes will impact investor appetite for secondaries strategies in the near term.
- Execution Risk
- The pace at which Adams Street can deploy its $5 billion fund amid a competitive secondary market landscape.