LONDON (Alliance News) - Adamas Finance Asia Ltd Friday said that it has agreed to invest USD300,000 into the BRJ China Credit Fund Ltd, following on from from its initial USD500,000 investment in April.
Adamas, which provides capital for Chinese small and medium sized enterprises in need of short-term bridging finance, said that the BRJ has exited three early investments since its first investment in April, yielding gross internal rate of returns of 27.26%, 31.83% and 57.04% on fully-repaid loans of USD2.1 million, USD2.4 million and USD4.8 million.
BRJ was launched by Adamas Asset Management (HK) Ltd, an investment management firm based in Hong Kong, which has been responsible for Adamas Finance Asia's investments since February.
"The decision to make this further investment into BRJ reflects the fact that the Adamas team has been delivering attractive returns both before and after becoming Adamas Finance Asia's investment manager," Chairman John Croft said in a statement.
"Adamas has a strong track record of securing high returns from investments backed by solid collateral, and this move further reinforces our commitment to building a refreshed portfolio of income-generating assets attractive to investors seeking high-yield investment opportunities focused on Greater China," Croft added.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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