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Laxman Pai, Opalesque Asia: The private credit investment manager ADM Capital has announced the final close for its second Asia Secured Lending Facility (ASLF II) at $178m.
Hong Kong and London-based private market investor said in a press note that the ASLF II, also known as the Somei Lending Platform, received commitments of $50m and $1 m from the US government's development finance institution Overseas Private Investment Corporation (OPIC) and Calvert Impact Capital, respectively.
IFC, a member of the World Bank Group, alongside another investor, provided initial seed capital in 2016 and the Facility - also known as the Somei Lending Platform - has already made seven investments since its first close in September 2017.
ADM Capital manages more than $16bn in private market assets. In Asia, ADM Capital has a variety of structures, which seek to support growing Asian businesses and provide credit in markets where its availability is scarce. The Facility succeeds ASLF I, launched in 2012 in partnership with the IFC. The strong performance of ASLF I has seen IFC and another seed investor re-invest in ASLF II.
ASLF II will invest in emerging Asian countries and specialises in off-market private loans originated through its regional network in 15 countries.
Capital from the new Facility will be used to make bi-lateral, direct loans to small and medium-size enterprises (SMEs) across the region with equity participation and profit-sharing mechanisms used to ...................... To view our full article Click here
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