Adamas expands executive team

The China-focused lender has hired a new managing director in Amsterdam, responsible for corporate business development. The firm has also strengthened its private debt team in Hong Kong.

Hong Kong-headquartered Adamas Asset Management has hired Marc de Kloe as a managing director, responsible for coordinating with European-based investors.

Based in Amsterdam, De Kloe joined the firm in July and will report directly to Paul Heffner, chief executive officer of Adamas.
De Kloe will be responsible for developing and growing relationships for Adamas and ADAM, its listed company, as well as implementing better operational, corporate and ESG (environmental, social and corporate governance) practices, the firm said.
De Kloe has 20 years’ experience in the investment industry throughout Europe. He worked for eight years at ABN AMRO Private Banking and was global head of alternatives and funds with responsibility over €3 billion in alternative funds and €60 billion in long-only funds.
Adamas has also bolstered its private credit investment team in Hong Kong, hiring Alvin Chew as managing director, and Vilma Luk as director, in newly created roles. Both will help with origination, due diligence, execution and monitoring of all private investments at the firm.
Chew brings 10 years’ of experience in private lending in Asia and was previously a director of structured finance global credit trading in Deutsche Bank. Luk was a senior manager at KPMG, where she advised on the disposal of non-performing loans and distressed debt in China. She also worked on the restructuring of listed property development company Kaisa, PDI understands.
“The Adamas team is excited about the appointment of these strategic hires,” Barry Lau, managing partner and chief investment officer of Adamas, said. “Marc, Alvin and Vilma all bring unique experience, market insight, relationships and capabilities that will allow us to continue evolving the business and penetrate new markets.”
Adamas was due to close its second credit fund, Greater China Credit Fund, on around $280 million in May, as previously reported by PDI. The firm is also drawing up plans with Chinese insurer Ping An Insurance (Group) to launch a joint venture targeting direct lending in China with an initial figure of $500 million. Adamas will have around $900 million in assets under management upon closing its second debt fund.

This article was amended on 21 August to reflect that ADAM is the listed company of Adamas Asset Management.