ADM holds first close of CEE Recovery Fund on €100m

Investors include the EBRD, FMO and IFC have committed over €178m. ADM Capital will cap the total fund size at €300m targeting a final close in the third quarter of 2010.

The ADM CEECAT Recovery Fund will invest in the same style as ADM Capital’s other closed end funds, focusing on rehabilitating operationally strong but financially distressed companies via restructuring, rescheduling, refinancing, debt-for-fequity swaps, liquidity management and will also fund growth opportunities where alternative sources of capital are not available.

Founded in 1998 in the fallout of the Asian crisis, ADM Capital has over 12 years of experience in investing in emerging markets across 12 countries. With 48 people stationed in local offices in Hong Kong, Mumbai, Beijing, Istanbul and London, ADM Capital’s assets under management are now over $1.7bn.

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• CEE
• Credit/Special Situations