Adams Street Partners Raises $350 Million for Inaugural Public CLO

Firm’s first public CLO financed by third parties; ~98% of loans identified

• Adams Street closed its first middle market CLO, raising $350 million to support the continued expansion of its private credit platform
• The transaction underscores the scale of the firm’s $13.5 billion private credit business and broadens Adams Street’s financing capabilities
• The CLO had an exceptionally competitive pricing level and robust investor participation

CHICAGO--(BUSINESS WIRE)--The Private Credit team of Adams Street Partners, LLC (“Adams Street”), a private markets investment firm with more than $65 billion in assets under management, today announced the final closing of a $350 million middle market collateralized loan obligation (“CLO”), ASP PIF CLO I, LLC.

The transaction marks a significant milestone in the continued expansion of Adams Street’s private credit platform, which has grown to $13.5 billion under management since its launch in 2016. The CLO further demonstrates the team’s ability to source and structure attractive portfolios while broadening the firm’s financing capabilities through third-party capital.

“This debut CLO represents another important advancement for Adams Street’s private credit platform and reflects strong investor demand for our strategy,” said Bill Sacher, Partner and Head of Private Credit at Adams Street. “Public CLOs are likely to represent an important financing avenue as we continue to expand our private credit business.”

The transaction achieved strong execution and robust investor participation, underscoring confidence in Adams Street’s credit platform. “The AAA tranche priced at SOFR + 148, an exceptionally competitive pricing level for an inaugural issuance,” said Tom Vuu, Principal on Adams Street’s Private Credit Team and lead for the group’s financing activity. Across the structure, the firm’s weighted average cost of financing will be SOFR + 159.

Approximately 98% of the loans included in the CLO have been identified, each representing direct lending investments originated by Adams Street. The CLO will have a four-year reinvestment period. Goldman Sachs & Co. LLC served as sole bookrunner, and Fitch Ratings acted as the ratings agency.

About Adams Street Partners

Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has $65 billion in assets under management across primary, secondary, growth equity, credit, and co-investment strategies. Adams Street strives to generate actionable investment insights across market cycles by drawing on over 50 years of private markets experience, proprietary intelligence, and trusted relationships. Adams Street has offices in Abu Dhabi, Austin, Beijing, Boston, Chicago, Hong Kong, London, Menlo Park, Munich, New York, Seoul, Singapore, Sydney, Tokyo, and Toronto. Visit www.adamsstreetpartners.com