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AdCap Management
AdCap Management was established in 2018 by Joel Adelman after the 2015 sale of Advance Partners to Paychex. The firm draws on three generations of family...
AdCap Management
AdCap Management was established in 2018 by Joel Adelman after the 2015 sale of Advance Partners to Paychex. The firm draws on three generations of family entrepreneurship that includes Shelly Adelman's leadership at Blue Coral and Quaker State. The office deploys capital through private credit, direct equity co-investments and real estate. It targets middle-market companies in North America, with primary activity in Ohio and surrounding Midwest states. Bridge loans and SPV structures form the core of its activity. Confirmed holdings include mixed-use properties The Dexter at 2800 Detroit Ave in Cleveland and The Quarter at 2550 Detroit Ave in Cleveland, plus the residential asset The Lumos in Columbus. The team includes seven named professionals based in Pepper Pike. Joel Adelman serves as CEO while Shelly Adelman acts as strategic advisor. Michael Turk handles finance, Matthew Williams manages legal matters, and Danny Goldstein oversees operations. No additional offices are disclosed. Joel Adelman maintains membership in YPO and the North Coast Angel Fund. The family office structure allows direct decision-making without external fund commitments. Capital allocation remains tied to the Adelman family's operating history in staffing finance and automotive products.
General information
Firm type
Single Family Office
Year founded
2018
Location
Region
North America
Country
United States
City
Pepper Pike
Corporate office
30100 Chagrin Boulevard, Suite 380, Pepper Pike, Ohio 44124, United States
Principals
Joel Adelman
Chief Executive Officer
Sheldon Adelman
Partner
Michael Turk
Chief Financial Officer
Matthew Williams
General Counsel
Danny Goldstein
Director of Operations and Technology
Sector focus
Frequently asked questions
Who runs investment decisions at AdCap Management?
Joel Adelman serves as CEO and leads investment decisions. Shelly Adelman provides strategic input as partner. Michael Turk and Matthew Williams support execution through finance and legal oversight.
How does AdCap Management source proprietary deal flow?
The firm relies on Joel Adelman's network from Advance Partners and local Midwest relationships. Membership in the North Coast Angel Fund and YPO Cleveland chapter supplies additional access to entrepreneurs.
Does AdCap Management participate in fund commitments or only direct deals?
The office executes direct co-investments and SPVs. It does not disclose commitments to external funds.
What investment stages does AdCap Management typically target?
The firm focuses on middle-market companies with established operations. It provides short-term bridge capital rather than early-stage venture funding.
Where does the underlying wealth come from?
Wealth originated from Shelly Adelman's exits at Blue Coral and Quaker State plus Joel Adelman's sale of Advance Partners to Paychex in 2015.
Does AdCap Management maintain philanthropic structures?
The Adelman Family Foundation exists separately. Joel and Shelly Adelman also serve on boards including University Hospitals and The Park Synagogue.
What is AdCap Management's known posture on co-investments alongside external GPs?
The office structures its own direct deals and bridge facilities. It does not disclose participation in club deals with outside managers.
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