ASP (Feeder) 2025 Direct Growth Equity Fund LP
Raised
$9M
Investors
1
Min Invest
None stated
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AltStreet Analysis
·Generated from EDGAR primary sources
ASP (Feeder) 2025 Direct Growth Equity Fund LP is a Cayman Islands-domiciled feeder fund managed by Adams Street Partners, filing an amended Form D under Rule 506(b) and Section 3(c). The fund has raised $9.2M from a single investor as of this September 2025 amendment. Minimum investment is not disclosed on this filing.
This 506(b)/3(c) feeder vehicle falls within the institutional private equity feeder structure typical of Adams Street Partners' multi-tier fund architecture. The single-investor structure at this filing stage suggests an initial close or anchor commitment, common for feeder vehicles that aggregate capital into a master fund. The Cayman domicile is standard for cross-border institutional funds accommodating tax-exempt and non-U.S. investors.
Data Flags
EDGAR Filing Data
Form D — Primary Source
View on SEC.govFilings on Record
Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.
In the Terminal
Filing events
4
latest Sep 19, 2025
Critical / warning
0 / 0
0 watch · 4 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
raising
Latest event First sale · Sep 19, 2025
SEC.govFund family Part of the ASP Direct Growth Equity Fund family: 2 vehicles across 0 generations · full family and the filing behind each link in the terminal
Investor
- The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
- 4 filing events with values and deltas, latest 2025-09-19, and alerts on the next one
- 1 offering timeline: velocity, share raised, first-sale lag, stalled flags
Pro
- This issuer against its cohort: rank by velocity and share raised among offerings filed the same quarter
- The same events, statements and NAV moves across every issuer, screenable, with unlimited watches and CSV
Counts and dates above are the free record. The values, the series and the comparisons are the seat. Loading your view…
Related Persons (Form D)
Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.
Item 3 changed on the Form D filed 2025-09-19: 2 related persons added and 2 removed against the filing of 2025-02-19; 16 now listed. The names are in the Terminal feed.
N/A ASP PE Management LLC
Director · Chicago, IL
N/A Adams Street Partners, LLC
Director · Chicago, IL
Jeffrey Akers
Executive Officer · Chicago, IL
David Brett
Executive Officer · Chicago, IL
Sara Dasse
Executive Officer · Chicago, IL
Jeffrey Diehl
Executive Officer · Chicago, IL
Miguel Gonzalo
Executive Officer · Chicago, IL
Brijesh Jeevarathnam
Executive Officer · Chicago, IL
Michael Kurlander
Executive Officer · Chicago, IL
Eric Mansell
Executive Officer · Chicago, IL
Steven Montag
Executive Officer · Chicago, IL
Robin Murray
Executive Officer · Chicago, IL
Kevin O'Donnell
Executive Officer · Chicago, IL
Alicia Pando
Executive Officer · Chicago, IL
William Sacher
Executive Officer · Chicago, IL
James Walker
Executive Officer · Chicago, IL
Placement Agents and Sales Compensation (Form D)
Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.
RBC Capital Markets, LLCCRD 31194 on BrokerCheck
Associated broker-dealer: None · New York, NY · Soliciting in all states
Questions About ASP (Feeder) 2025 Direct Growth Equity Fund LP
Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.
What is ASP (Feeder) 2025 Direct Growth Equity Fund LP?
ASP (Feeder) 2025 Direct Growth Equity Fund LP is a Cayman Islands limited partnership that filed a Form D with the SEC on September 19, 2025 as a other investment fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7).
Is ASP (Feeder) 2025 Direct Growth Equity Fund LP legit?
AltStreet does not rate legitimacy; it reports the public record. ASP (Feeder) 2025 Direct Growth Equity Fund LP filed a Form D with the SEC on September 19, 2025 claiming Rule 506(b), Section 3(c), Section 3(c)(7). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $9,235,000 sold to 1 investor. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.
Is ASP (Feeder) 2025 Direct Growth Equity Fund LP registered with or approved by the SEC?
No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that ASP (Feeder) 2025 Direct Growth Equity Fund LP claimed Rule 506(b), Section 3(c), Section 3(c)(7) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.
How much has ASP (Feeder) 2025 Direct Growth Equity Fund LP raised?
ASP (Feeder) 2025 Direct Growth Equity Fund LP reported $9,235,000 sold from 1 investor in an offering of indefinite size as of the Form D filed September 19, 2025. The filing states that the figure is combined across related vehicles, so it is not this entity's figure alone.
Who can invest in ASP (Feeder) 2025 Direct Growth Equity Fund LP?
The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(7), each investor must be a qualified purchaser, generally an individual with at least $5 million in investments. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.
What is the minimum investment in ASP (Feeder) 2025 Direct Growth Equity Fund LP?
The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.
Who is selling ASP (Feeder) 2025 Direct Growth Equity Fund LP and how are they paid?
The Form D names RBC Capital Markets, LLC (CRD 31194), associated with None as the recipient of sales compensation soliciting in all states. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.
Who is behind ASP (Feeder) 2025 Direct Growth Equity Fund LP?
The Form D lists 16 related persons: ASP PE Management LLC, director ("General partner of the Issuer (the ""General Partner"")"); Adams Street Partners, LLC, director (Sole member of the General Partner); Jeffrey B. Akers, executive officer (Executive Officer of Adams Street Partners, LLC); David J. Brett, executive officer (Executive Officer of Adams Street Partners, LLC); Sara R. Dasse, executive officer (Executive Officer of Adams Street Partners, LLC); Jeffrey T. Diehl, executive officer (Executive Officer of Adams Street Partners, LLC); Miguel T. Gonzalo, executive officer (Executive Officer of Adams Street Partners, LLC); Brijesh T. Jeevarathnam, executive officer (Executive Officer of Adams Street Partners, LLC), and 8 more. Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.
Where is ASP (Feeder) 2025 Direct Growth Equity Fund LP located?
The issuer's address on its SEC filings is C/O Adams Street Partners, LLC, One North Wacker Drive, Suite 2700, Chicago, IL 60606. Its phone number of record is 312-553-7890. It is organized under the laws of Cayman Islands.
How long is the ASP (Feeder) 2025 Direct Growth Equity Fund LP offering open?
The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 2 amendments are on record for this CIK.
How large is ASP (Feeder) 2025 Direct Growth Equity Fund LP?
The issuer declined to disclose its net asset value range on the Form D, which the form permits.
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Data Methodology
Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.