Abu Dhabi Capital Management has announced the final closing of its first fund; the ADCM Secondary Private Equity Fund at USD 45 million, three months after its launch in March 2011.
The fund is the first secondary private equity fund that mainly focuses on investing in secondary private equity funds in the MENA region, and is the first private equity fund in the MENA region to close since June 2009.
The fund acquired secondary private equity funds in the MENA, US and Europe regions in the past three months, and is currently 40% invested.
Abu Dhabi Capital Management will launch its second fund, which will have a target size of USD 100 million, later this year.
