AIM-quoted China Private Equity Investment is to invest USD1m in a new private equity investment fund due to be launched by the Hong Kong-based Adamas Asset Management (HK) Limited.
Adamas’s new Greater China Credit Fund plans to raise a total of up to USD275m to target high-return investments in small and medium enterprises (SMEs) predominantly in Greater China across a range of sectors.
It follows successes achieved by an earlier Adamas fund which has already provided investors with exit returns for three out of 11 investments yielding a gross IRR of 27 per cent.
CPE announced plans last November to develop a strategic partnership with Adamas.
