Adams Street Partners Opens Hong Kong Office as Global Firms Expand Local Presence
Chicago-based investment manager launches local entity amid rising asset-raising and deal flow in Hong Kong
Chicago-based private markets investment manager Adams Street Partners has formally incorporated its Hong Kong office, signalling its intent to deepen its presence in Asia-Pacific and capitalise on the city’s resurgent position as an international capital-markets hub.
The new local entity, Adams Street Hong Kong Limited, was registered on 9 June 2025 and marks the firm’s latest strategic move in the region.
Jeffrey Diehl, the firm’s managing partner and head of investments, said the decision “reflects a number of firms that see Hong Kong as a nexus for investors, opportunities and cross-border deal-making”, adding that the office will allow Adams Street to be closer both to its investors and the Asia-Pacific market.
The office will initially be staffed by a small team of three investment professionals and form part of the firm’s global network spanning existing hubs in Chicago, London, Singapore, Tokyo, Sydney, Seoul and Beijing.
Adams Street manages over $65 billion in assets globally and said the Asian business continues to grow in importance as institutional investors in the region seek greater exposure to private markets.
The firm pointed to Hong Kong’s rebound after the pandemic: asset-raising activity for equity capital in the city reached HK$422 billion (approximately US$54 billion) in the year to October, and assets under management in local funds climbed to HK$35.14 trillion in 2024, underscoring the appeal of the gateway.
The move follows a wave of Western investment firms setting up or expanding offices in Hong Kong.
Recently, Paris-based firm Ardian opened a local office, and Swiss manager Partners Group established its Hong Kong base in June 2024. These openings reflect broader investor sentiment that Hong Kong remains a focal point for capital flows into Greater China and global private-markets integration.
Industry analysts see Adams Street’s establishment in Hong Kong as both a strategic bet and a reaffirmation of the city’s role in the regional investment ecosystem.
For the firm, being physically on-the-ground enables faster deployment, closer client engagement and enhanced responsiveness to Asia-Pacific opportunities.
The firm emphasised that while its incorporation is recent, its Asia-Pacific team has been active across the region with offices in Beijing, Seoul, Singapore and Tokyo, and the new Hong Kong presence is designed to strengthen its platform for deal sourcing and investor servicing.
The three-person team in Hong Kong is expected to grow as the firm pursues local partnerships and looks to support institutional investors based in the region with global private-markets solutions.
The new local entity, Adams Street Hong Kong Limited, was registered on 9 June 2025 and marks the firm’s latest strategic move in the region.
Jeffrey Diehl, the firm’s managing partner and head of investments, said the decision “reflects a number of firms that see Hong Kong as a nexus for investors, opportunities and cross-border deal-making”, adding that the office will allow Adams Street to be closer both to its investors and the Asia-Pacific market.
The office will initially be staffed by a small team of three investment professionals and form part of the firm’s global network spanning existing hubs in Chicago, London, Singapore, Tokyo, Sydney, Seoul and Beijing.
Adams Street manages over $65 billion in assets globally and said the Asian business continues to grow in importance as institutional investors in the region seek greater exposure to private markets.
The firm pointed to Hong Kong’s rebound after the pandemic: asset-raising activity for equity capital in the city reached HK$422 billion (approximately US$54 billion) in the year to October, and assets under management in local funds climbed to HK$35.14 trillion in 2024, underscoring the appeal of the gateway.
The move follows a wave of Western investment firms setting up or expanding offices in Hong Kong.
Recently, Paris-based firm Ardian opened a local office, and Swiss manager Partners Group established its Hong Kong base in June 2024. These openings reflect broader investor sentiment that Hong Kong remains a focal point for capital flows into Greater China and global private-markets integration.
Industry analysts see Adams Street’s establishment in Hong Kong as both a strategic bet and a reaffirmation of the city’s role in the regional investment ecosystem.
For the firm, being physically on-the-ground enables faster deployment, closer client engagement and enhanced responsiveness to Asia-Pacific opportunities.
The firm emphasised that while its incorporation is recent, its Asia-Pacific team has been active across the region with offices in Beijing, Seoul, Singapore and Tokyo, and the new Hong Kong presence is designed to strengthen its platform for deal sourcing and investor servicing.
The three-person team in Hong Kong is expected to grow as the firm pursues local partnerships and looks to support institutional investors based in the region with global private-markets solutions.
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