Adams Street Partners Llc, a global private equity fund-of-funds that has $20 billion (Rs 95,600 crore) in assets under management as of August 2009, has appointed Pinal Nicum as partner in its London office. Nicum was very recently a principal at London-based Coller Capital, a leader in global private equity secondaries.
He has joined a team of 10 investment professionals dedicated to secondary investments, according to a report in AltAssets. His LinkedIn profile also reads his role as partner at Adams Street Partners.
Nicum had been with Coller for over eight years. He joined Coller in 2001 when it was investing its third fund and has focused on transactions in Europe, India and the Middle East. He has worked on deals including the purchase of portfolios from Abbey National and Deutsche Bank, as well as India’s first two secondary transactions, which were done along with ICICI Venture and ILF&S Investment Managers, according to Coller’s website. Prior to joining Coller, he was business development manager at Rank Group Plc, and manager, corporate finance at Coopers & Lybrand in London.
Adams Street has raised its first dedicated secondaries fund in 1988. Since then it has closed more than 100 secondary deals, according to data published in its website. It made its first investment in India in 2004, five years after they started looking at opportunities here. The investment was in ChrysCapital III.
The firm currently has $2.2 billion in assets available specifically for secondary investments, the report adds. Apart from investing in fund of funds, Adams Street also makes early to later stage venture capital, and growth equity investments to the companies.