Adams Street Partners LLC, a private markets investment management firm, has completed its fundraising for its second private credit program. The program closed oversubscribed with over $2.1 billion in committed capital.

The fund surpassed its original target of $1.5 billion and was supported by pension plans, insurance companies, family offices, and the firm’s existing investors. The fund closing results in the firm’s private credit strategy assets totaling to $7.6 billion.

“We are extremely pleased with the investor support for our second Private Credit program,” said Bill Sacher, partner and head of private credit. “The strong demand for Adams Street’s Private Credit offering shows the value of the asset class and the appetite in this market for investments that target high-yields while also prioritizing stable returns. Our team looks forward to continuing to work with our longstanding sponsor relationships.”