Komfie Manalo, Opalesque Asia: Hong Kong-based Adamas Asset Management and Ping An Insurance Group, one of China’s largest financial institutions, have finalized a memorandum of understanding to co-manage a debt fund with an initial target of $500m, people familiar with the transaction told Opalesque.
Both firms are seeking institutional investors, particularly in the Middle East, to co-invest with Ping An. The arrangement has attracted significant interest and 22 deals are in the pipeline.
Once the agreement is finalized, Ping An and Adamas should launch the fund and complete the fund-raising in the second quarter of this year.
Under the agreement, Ping An will allocate $250m into the fund through its Chinese clients with offshore funds. For its part, Adamas, which already manages US$610 million in AuM, will raise capital through its international connections.
The new fund will provide structured collateralized loans to small to medium-sized private enterprises in sectors such as project financing, healthcare, energy and real estate.
Barry Lau, co-founder of Adamas Capital, participated in the latest Opalesque Hong Kong Roundtable and was recently interviewed on ...................... To view our full article Click here
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