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Adams Street Partners Bolsters Private Credit Team

September 12, 2016, 07:25 AM

Adams Street Partners has expanded its Private Credit team, building on the launch of the strategy by former Oaktree Capital executives Bill Sacher and Shahab Rashid in January 2016.

Frederick Chung, formerly a Vice President at Goldman Sachs, has been appointed as a Principal. In this position, Fred will be responsible for all aspects of the investment decision-making process, including sourcing, structuring, and reviewing deal opportunities, as well as participating in deal term negotiations.

Thomas Petty, formerly an Associate at Morgan Stanley, has joined as a Senior Associate. Michael Allen and Emily Shiau, previously analysts at J.P. Morgan Chase and Alvarez & Marsal, respectively, have joined the team at the Associate level. Tom, Michael, and Emily will be responsible for supporting senior members of the Private Credit team, as well as participating in business due diligence, industry review, document negotiation and portfolio management.

All four new team members will be based out of Adams Street's Manhattan office, and will report to Sacher and Rashid.

"We are thrilled to welcome such a talented group of credit professionals to the team and the firm.  With our deeply experienced team now in place, we will be well-positioned to provide one stop debt financing to the private equity community and quality credit investments to our clients," said Bill Sacher, Partner & Head of Private Credit at Adams Street.

"We are very excited to expand the private credit team and are thrilled to add such quality individuals who share our vision and passion for the strategy. Not only are Fred, Tom, Emily and Mike a great cultural fit, their background and experience in the credit space will help us deliver superior results to our clients," added Shahab Rashid, Partner & co-founder of Adams Street's Private Credit team.

Chung joined the team as a Principal. His previous experience includes a Vice President role at Goldman Sachs, where he was responsible for investing capital out of various Goldman Sachs private debt vehicles, including the firm's first Business Development Company (BDC). Fred was also a Vice President with Fifth Street Asset Management, an Associate with Greenhill & Co. and Golden Arc Capital, and an Analyst at Banc of America Securities. Fred began his career at Lehman Brothers, as an Analyst within the Credit Derivatives team.

Petty joined the team as a Senior Associate. His previous experience includes an Associate role with Morgan Stanley within their Investment Banking Financial Sponsors team. Tom commenced his career at IBM within their Strategic Outsourcing Team as a Client Solutions Executive.

Allen joined the team as an Associate. His previous experience includes an Analyst role within the Leveraged Finance & Corporate Client Banking group at J.P. Morgan Chase.

Shiau joined the team as an Associate. Her previous experience includes serving as a Corporate Finance Analyst at Alvarez & Marsal, and as a Leveraged Finance Analyst at Citigroup.

Adams Street Partners is one of the largest and most established private markets investment firms in the world. Adams Street commenced its investment program in 1972, and manages $28 billion of assets across five strategies – primary and secondary private equity fund investments, co-investments, private credit investments, and direct venture/growth investments. Adams Street employs 140+ professionals in Chicago, London, Menlo Park, New York, Singapore, Beijing, Boston, and Tokyo.

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