ADM Capital CEECAT Recovery Fund Passes EBRD Concept Review

ADM Capital’s new fund, the ADM Capital CEECAT Recovery Fund, has received interest from the European Bank for Reconstruction and Development. The project passed concept review earlier this month as is up for final approval in early December. If the deal is approved the EBRD will commit to investing up to €60 million in the fund as a cornerstone investor. An initial amount of 25% or €25 million, whichever is greater, will be invested at the fund’s first closing.

Additional amounts will depend on future closings, but the EBRD’s total investment will not exceed €60 million.

ADM Capital CEECAT Recovery Fund (www.admcap.com)
The fund is being established and managed by Hong Kong based ADM Capital. It will target opportunities in CEE, Central Asia, and Turkey with companies that are stable but in need of debt restructuring. The fund will not seek opportunities to realize returns from liquidations or takeovers. The initial closing, planned for some time next year, is expected to be at €100 million. ADM Capital has set the target size of €300 million for the fund at final close.