Adamas-backed investment fund sees 32 per cent IRR from newly exited project
An investment fund Adamas Finance Asia (AFA) invested USD500,000 into three weeks ago has achieved a gross IRR of 31.83 per cent from a newly-exited project, Project Changlelu.
Because of the fund’s structure, the exit has increased its net asset value and the cash generated becomes available for future investment.
The investment fund, BRJ China Credit Fund Limited, was launched in August 2013 by Hong Kong-based Adamas Asset Management (HK) Limited.
Since February 2014, Adamas has been has been acting as AFA's investment manager.
AFA chairman John Croft says: "The BRJ exit from the Project Changlelu provides a further clear example of how we are already benefitting from the investment advice provided by the Adamas team in Asia.
"We are delighted by this news, not least because it follows our announcement at the start of this month that the company received a distribution of USD75,300 from a separate, September 2013, investment of USD1 million into another fund managed by Adamas – the Greater China Credit Fund.”
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