US-based Adams Street Partners has opened an office in Sydney, while emerging markets-focused Rohatyn Group has partnered with South Africa-based Ethos Private Equity to launch a new private equity firm, AI Capital.

Shaun Thomas to lead Adams Street’s Australia office

US-based global private markets investment manager Adams Street Partners has opened an office in Sydney, Australia, according to a release.

This is Adams Street’s first office in Australia and fifth in the Asia-Pacific region, joining Tokyo, Singapore, Seoul, and Beijing. The firm operates 12 offices globally as of now.

“Institutional investors in Australia are increasingly focused on allocating to private markets,” said Ben Hart, Partner & Head of Investor Relations (Asia) at Adams Street. “We are seeing considerable demand from the Australian private markets community for solutions, including custom accounts and evergreen structured products.”

The Australian office will be led by Shaun Thomas, the newly appointed principal, investor relations, who joined Adams Street in November last year. Shaun was previously a vice-president at Partners Group Australia and spent seven years at Grant Samuel Funds Management, where he was head of research and strategic accounts.

Founded in 1972, Adams Street Partners is a global private markets investment manager with investments in more than 30 countries across five continents. The firm is 100% employee-owned and has over $52 billion in assets under management.

SG-based AI Capital to invest in South Asia

Emerging markets-focused asset manager The Rohatyn Group (TRG) has partnered with South Africa-based PE firm Ethos Private Equity to launch a new private equity firm, AI Capital, according to AVCJ.

AI Capital will be based in Singapore and will invest in artificial intelligence in South Asia, Southeast Asia, and Africa.

Based in New York, Rohatyn Group, also known as TRG Management, invests in emerging markets, offering risk management, legal and compliance, operations and custody, marketing, investor relations and information technology.  Rohatyn Group acquired Ethos Private Equity last year to expand in Africa.

“The philosophical and cultural similarities of TRG and Ethos were apparent from the start,” said Nicolas Rohatyn, The Rohatyn Group’s Chief Executive Officer and founder last year.

Founded in 1984, Ethos pioneered South African private equity, concluding the first private equity-led acquisitions in the country.

The firm has evolved from being the leading private equity manager in South Africa to becoming the leading alternative asset manager in Africa. Since 2016, Ethos has launched a mid-market fund, a mezzanine fund, and an AI fund.