India Private Credit – Looking Back, Predicting Ahead. A PERFECT STORM WITH A SPOTLESS RAINBOW? India’s macro position was already stretched when the COVID-19 pandemic struck in March 2020. The funding environment was constrained following a series of problems in the banking sector in 2018-19, the INR was held back by persistent current account…
ADM Capital Launches Emerging Asia Renewable Energy Debt Fund with USD100m from AIIB; Continues to Support Emerging Asia Entrepreneurs [HONG KONG, 30 NOVEMBER] – ADM Capital, the Hong Kong headquartered investment manager with specialist experience in Asia Pacific credit and sustainable investment, has received a USD100m seed commitment from the Asian Infrastructure Investment Bank…
CWR, an initiative of ADM Capital Foundation, released a series of “survival guides” to avoid Atlantis in its “CWR Coastal Capital Threat Series”. The reports benchmark risks for 20 coastal capitals and economic hubs in APAC from Tokyo to Sydney and show that urban real estate equivalent to 59 Singapores will be underwater without serious…
ADM Capital Foundation is featured in Convergence’s State of Blended Finance 2020, which is an authoritative reference point on the global blended finance market, presenting data and analysis from the largest and most detailed database on historical blended finance transactions. The report, published in November, points to “increased coordination in the blended finance market, as…
The TLFF I transaction is included among the case studies in the Blended Finance Task Force’s Better Finance Better Food report, which was released this past week. The case study describes the Tropical Landscapes Finance Facility of which ADM Capital is a partner as well as TLFF I, a sustainability bond for Royal Lestari Utama.…
ADMCF Signs Cooperation Letter with United Nations Development Program (UNDP) Link to UNDP Release ADM Capital Foundation (ADMCF) and UNDP have signed a letter of intent to cooperate towards a shared vision of economic, social and environmental development in Asia. Collaboration between the organizations is expected to centre around unlocking investments that can transform…
The UN-backed Principles for Responsible Investment (PRI) in July 2020 granted ADM Capital an A+ rating for Strategy and Governance and an A rating for Fixed Income – Corporate Non-Financial. This score is an independent recognition of ADM Capital’s attention to sustainable investing and its Environment, Social and Governance (ESG) integrated investment process. ADM Capital…
ADM Capital is pleased to announce that it has fully exited from its investment in Project Joy 2 achieving a 20% IRR and a 1.55x cash-on-cash multiple. Project Joy 2, the second with the same borrower, was an October 2017 senior secured lending to a Beijing based group of companies in the Information Technology sector.…
In June 2020, ADM Capital fully exited from its investment in Project Clarion achieving an 12.6% IRR and a 1.37x cash-on-cash multiple. Project Clarion was an October, 2014 transaction where ADM Capital provided capital to an Indonesian private equity firm to facilitate a Management Buy-Out of an Indonesian foods business from a private equity fund…
ADM Capital Asia Private Credit Sustainability Report 2019 – A Message From Our Founders – Now more than ever, as we struggle globally with COVID-19, we need to reconsider our relationship with nature. As a zoonotic virus, for which bats and pangolins are reservoir hosts or amplifier hosts, we need to focus on…
In February 2020 ADM Capital exited from Project Runway, a December 2018 mezzanine financing for the recapitalisation of a 33,000 sqm, five floor office building in Bundang, Korea, a populous and wealthy suburb of Seoul. The USD24m ADM Capital loan facility was the first of three mezzanine loans across two cities negotiated with the same…
In January 2020 ADM Capital exited from Project Skyride, a 2018 secured loan financing a Shanghai based private equity firm’s acquisition of Grouse Mountain, an iconic ski resort 15 minutes north of Vancouver, Canada. At disbursement, the USD43m three-year ADM Capital loan had an estimated 2.2x collateral coverage provided by a 100% first lien share…
The potential for significant negative impacts on an investment portfolio from our changing climate, the dramatic loss of biodiversity in recent years, our emptying oceans, has been well documented but has not yet led private sector investors to act urgently to contain these risks. ADM Capital sees an opportunity to play a leadership role…
Over the past five years, India has witnessed several macro developments and changes at the micro level. Improved economic growth potential and progress on nonperforming asset restructuring on the one hand, juxtaposed against a constrained funding environment on the other, is now making the risk-return proposition a little more realistic and comparable to the rest…
Christopher Botsford, ADM Capital Co-Founder, participated in the ‘Founders Chat’ panel at the AIMA APAC Annual Forum in Hong Kong on Thursday 7th March, 2019. ADM Capital formed in 1998 after the financial Asian financial crisis and with more than 20 years’ experience in Asia Pacific credit markets, the firm has a unique…
Jakarta/Amsterdam, March 7th 2019 – The &Green Fund, a blended finance impact investment fund focused on forest protection and tropical forest commodities today announced that it is investing 23.75 million US dollars in sustainable, deforestation-free rubber in Indonesia. The investment will fund PT Royal Lestari Utama (RLU), an Indonesian joint venture of the French tire…
An ADM Capital Foundation report for the first time documents the scale and nature of wildlife trafficking in Hong Kong, highlighting serious and organized crime. Featured by the South China Morning Post and the New York Times, the report ‘Trading in Extinction: The Dark Side of Hong Kong’s Wildlife Trade’, consolidates a large body of pre-existing work…
[HONG KONG SAR, China, 27th November, 2018] ADM Capital, a leading Hong Kong and London-based private credit investment manager, announces the final close for its Asia Secured Lending Facility II (ASLF II) with proceeds raised of USD178m. ASLF II received USD50m and USD10m in commitments, respectively, from the Overseas Private Investment Corporation (OPIC), the U.S.…
In a new report, Asia Research Engagement (ARE) examines the impact of growing affluence in Asia in terms of our need for protein and, more specifically, the environmental consequences of that protein journey. Commissioned by ADM Capital Foundation and ADM Capital’s Cibus Fund, the report reflects what I have observed over two decades investing in…
ADM Capital partner, Chris Botsford, writes in a letter to the Financial Times that more action is needed to promote sustainable development. He suggests that we all should write to our pension funds to ask how they are investing our retirement funds. We need to make sure those funds are not invested in companies that…
A key element of ADM Capital Foundation’s work in 2017 has been supporting investors and businesses to an understanding that, when ignored, environmental risk can lead to material economic impact. Thus, via research, education and targeted action, we have focused, in part, on how to promote better companies making better use of resources and managing…
[LONDON, 15th June 2018] ADM Capital, the London and Hong Kong-based private credit fund manager, working closely with Tejara Capital and Houlihan Lokey, has led a successful US$520 million refinancing for International Oasis Holding Company KSCC (“International Oasis”). ADM Capital led a consortium of international investors including certain funds and accounts managed by Empyrean…
Against the backdrop of increased volatility in markets, uncertainties in macro fundamentals relating to potential trade wars and higher rates, we take the opportunity to discuss the risk management of our portfolios and articulate our views. Based on our risk factor and scenario analysis, we expect that our portfolios will be shielded from these risks…
The Tropical Landscapes Finance Facility (“TLFF”) launched its first transaction on February 26th, a landmark USD95 million loan to an Indonesian JV between Michelin and Barito Pacific to help finance a sustainable rubber plantation in two heavily degraded landscapes.
Gavin Sasson, of ADM Capital Europe, discusses the acquisition of a controlling interest in one of Europe’s largest olive oil producers, Innoliva, which produces extra virgin oils in Spain and Portugal. Many in the olive oil business would agree, getting a return on investment can be elusive. But a London-based institutional investor is bullish on…
The business of lending has been around for thousands of years, but has evolved in its application, and currently faces significant technological, regulatory and environmental challenges.
Fund structures differ depending on the liquidity and maturity characteristics of the asset class
they invest in…
The investing world is currently going through a curious phase. On one hand, the rally in the US equity markets continues undiminished, fuelled by expectations of a pro-business US administration enabling business growth. In theory, this should in turn lead to higher interest rate expectations and an upward shift in bond yield curves; however, notwithstanding…
Convergence awards grant to ADM Capital and ADM Capital Foundation for design of financing facility for renewable energy and smallholder livelihood projects in Indonesia.
ADM Capital celebrated its’ 20th anniversary last year, and is one of few boutique credit fund managers with such a depth of experience investing in the Asia Pacific region. Our commitment to finding value in complex situations, our long-standing relationships, structuring know-how, as well as our ability to leverage experience across jurisdictions, economic cycles and…
At ADM Capital, we source and structure our own deals. Although transaction sizes may typically be smaller and structuring may take more work than sponsored deals, we believe that the choice, control, relationships, potential value added and consistency of returns in self-sponsored transactions more than offset the efforts needed to make them work.
ADM Capital’s Galleus Fund I won under the “Best Fixed Income, High Yield and Distressed” category at the October 2016 AsiaHedge Awards. ADM Capital Best Fixed Income High Yield Distressed Strategy 2016
For ADM Capital, our Asian private credit strategy has consistently generated an IRR of 18%+ over the last 5 years. In comparison, Emerging Market high yield bonds have returned a CAGR of 7.1% over the same period. Indeed, in the last 12 years, we have invested in 133 private deals amounting to over USD3.3bn across…
Christopher Botsford, founding partner and joint chief investment officer at ADM Capital, talks about how the private debt opportunity is unfolding in Asia. The Future of Private Debt – The Last Word with ADM Capital
Friday, September 9th 2016 marked the official opening of the Colourstone Processing Facility near Broome, Western Australia…
Globally oriented health and nutrition company Nuchev today announced the successful completion of up to A$20 million in financing from Hong Kong based investment manager ADM Capital. News Release_Nuchev Secures Finance from ADM Capital_FINAL
IFC, a member of the World Bank Group, and ADM Capital, have launched a repeat lending platform to support sound, but financially stressed companies in Asia. The platform will act as a safety net allowing small and medium enterprises (SMEs) to grow in the absence of bank financing, subsequently saving jobs and securing livelihoods. The…
Our most recent exit has been our most successful yet – the USD20m Project Hyatt investment related to the property sector in Malaysia. Even in the current uncertain and volatile market environment where the Malaysian Ringgit declined over 30% during the investment period, we exited this investment in early February, making a gross IRR of…
Through a combination of equity and scheduled future debt financing, ADM Capital has invested in Rent 2 Own (R2O), a greenfield equipment leasing company in Myanmar with strong growth potential and an opportunity to capitalise on first mover advantages amid increasingly favourable economic and political conditions. ADM Capital Project Hyatt Investment Performance
ADM Capital has completed the first tranche of a long-term financing arrangement with Vietnam’s leading consumer finance and retail platform iCare Benefits Group (formerly Mobivi), as the company seeks to rapidly grow and service an untapped domestic market of US$16bn, and US$200bn throughout Southeast Asia. Project Paycheck Update
April 2016 has been marked as the date for the opening of Yeeda Pastoral Company’s new abattoir, which will be situated between Broome and Derby and will have the capacity to process 1200 to 1300 cattle per week. Yeeda Press Release
Diane Foreman’s Emerald Group has sold its ice-cream manufacturing subsidiary to a foreign collective for an undisclosed sum. Emerald Group Press Release
ADM Capital has provided a $23.5 million loan to finance a rights issue involving Yeeda shareholders Jack Burton and his business partner Mervyn Key. Yeeda Press Release 2
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