CHICAGO, Sept. 8, 2016 /PRNewswire/ -- Adams Street Partners ("Adams Street") 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 Mr. Sacher and Mr. 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.
Biographies of the new hires can be found below:
Fred 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.
Tom 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.
Michael 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.
Emily 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.
About Adams Street Partners
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.
This press release is for informational purposes only and should not be construed as investment advice or an offer, or solicitation of an offer, to buy or sell securities either generally or in any jurisdiction where the offer or sale is not permitted. This press release contains certain statements that may include "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical fact, included herein are "forward-looking statements." The forward-looking statements are based on Adams Street Partners' beliefs, assumptions and expectations of future performance, taking into account all information currently available to Adams Street Partners, and can change as a result of many possible events or factors, not all of which are known to Adams Street Partners or are within its control.
Dukas Linden Public Relations
Work: (212) 704-7385 x6531
Dukas Linden Public Relations
Work: (212) 704-7385 x3653
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SOURCE Adams Street Partners