LONDON (Alliance News) - Adamas Finance Asia Ltd on Friday took note of a new joint venture fund in Hong Kong between its investment manager and Ping An Trust Co Ltd.
Adamas Asset Management (HK) Ltd, which has managed the company since February 2014, is partnering with the Ping An Insurance (Group) Co of China subsidiary on the fund, which has a USD500.0 million target and will focus on investments with "strong downside protection".
"The fund bridges a major funding gap that exists for quality small to medium sized enterprises in Greater China that are seeking to grow to the next level. In China, 90% of SMEs do not have access to traditional bank financing and public equity markets, hindering the rapid growth of high quality companies," Adamas Finance Asia said in a statement.
"The fund will benefit from strong collateral enforcement and risk-adjusted returns due to the fund's onshore investment structuring and on-the-ground expertise in enforcement and risk management. Ping An's internal credit rating system and its staff resources in local markets will also enhance a well-established investment process developed by Adamas," the company added.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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