ADM Capital raises $630m for its private credit platform

The private capital manager is ramping up its Asia-Pacific credit business by raising new capital and hiring a senior executive.

ADM Capital has garnered $630 million through its Asia-Pacific private credit platform as the firm plans to hire more staff and raise additional capital for investments.

The new funds will be used for lending to small- and medium-sized enterprises in the region, according to a statement by the firm on 28 April. It is understood that ADM Capital’s typical loan size ranges from $25 million to 75 million.

“We believe small and medium enterprises will be disproportionately affected as traditional lenders prioritise top-tier clients and their requests for urgent working capital,” Chris Botsford, ADM Capital’s co-founding partner and joint chief investment officer, said in the statement, referring to the impact of covid-19 on the economy.

Private Debt Investor understands that ADM Capital’s private credit platform comprises six vehicles that are relevant to its Asia-Pacific private credit strategy. The platform includes both open-end and closed-end funds.

As PDI reported in November 2018, the manager garnered $178 million for its second Asia-focused lending fund, Asia Secured Lending Facility II. The fund’s geographic focus included China, Indonesia, Thailand, Cambodia, Myanmar and Mongolia.

The firm has appointed Neil Harvey as executive chairman of its Asia-Pacific private credit team. He joined ADM Capital in November 2019, having previously been chief executive of Hong Kong and Greater China for Credit Suisse and head of the group’s Asia-Pacific asset management division.

Following the latest fundraising, ADM Capital had around $1.7 billion in assets under management in Asia-Pacific as of the end of April. Its total AUM had reached $2.4 billion.

The firm invests in private credit, and food and agriculture private equity, among other areas. It has offices in Hong Kong, Singapore, and London.