02.03.2015, 13:22
Adamas Named Best Asia Pacific Lender
OREANDA-NEWS. Adamas Finance Asia Ltd ("ADAM" or "the Company") announces that its Hong Kong-based investment manager, Adamas Asset Management ("Adamas") has beaten major international competition to be named Best Asia Pacific Lender in the prestigious Private Debt Investor Annual Awards for 2014.
Adamas, which has US\$620 million under management, saw off close challenges from investment giants, KKR Asset Management and Piramal Fund Management to secure the award.
Over the past five years, Adamas has generated consistent gross internal rates of return typically averaging around 30% by providing structured loans to well-managed Chinese SMEs.
The firm mitigates the risks of fraud, corruption, weak contractual enforcement and legal ambiguity sometimes associated with Chinese investment by conducting stringent due diligence, securing a hold over recoverable collateral, and applying detailed attention to loan documentation and preparation for possible legal enforcement.
Since 2010, the Adamas team has experience in providing short-term credit funding to 54 SMEs within China, successfully exiting from 42, and experiencing only five delays in repayments of principal or interest. In each of the five cases, it commenced proceedings in the Chinese courts, with the result that all five defaulters subsequently settled in full either ahead of court action or as a result of judicial decisions.
ADAM's exposure to the investment opportunities identified by Adamas has to date been limited by lack of investment funding yet to be realised from its planned programme of disposals. On 18 December 2014 ADAM announced its first major disposal from its legacy portfolio, agreeing the redemption of its interest in the Chinese pharmaceutical company, Global Pharm Holdings Group Inc, for US\$25 million and crystallising a US\$2.6 million profit over book value.
ADAM Chairman, John Croft said: "At a time when there have been well documented issues with certain Chinese companies quoted in London and on other markets, the achievement by Adamas in beating the likes of KKR to be named Best Asia Pacific Lender demonstrates how it is possible with a carefully structured approach to generate attractive and consistent returns from quality Chinese credit-funding deals."
He added: "Following the agreement for the redemption of our first legacy investment in December we are now looking forward to participating more actively in projects identified by the Adamas teams, and generating returns for shareholders."
Adamas, which has US\$620 million under management, saw off close challenges from investment giants, KKR Asset Management and Piramal Fund Management to secure the award.
Over the past five years, Adamas has generated consistent gross internal rates of return typically averaging around 30% by providing structured loans to well-managed Chinese SMEs.
The firm mitigates the risks of fraud, corruption, weak contractual enforcement and legal ambiguity sometimes associated with Chinese investment by conducting stringent due diligence, securing a hold over recoverable collateral, and applying detailed attention to loan documentation and preparation for possible legal enforcement.
Since 2010, the Adamas team has experience in providing short-term credit funding to 54 SMEs within China, successfully exiting from 42, and experiencing only five delays in repayments of principal or interest. In each of the five cases, it commenced proceedings in the Chinese courts, with the result that all five defaulters subsequently settled in full either ahead of court action or as a result of judicial decisions.
ADAM's exposure to the investment opportunities identified by Adamas has to date been limited by lack of investment funding yet to be realised from its planned programme of disposals. On 18 December 2014 ADAM announced its first major disposal from its legacy portfolio, agreeing the redemption of its interest in the Chinese pharmaceutical company, Global Pharm Holdings Group Inc, for US\$25 million and crystallising a US\$2.6 million profit over book value.
ADAM Chairman, John Croft said: "At a time when there have been well documented issues with certain Chinese companies quoted in London and on other markets, the achievement by Adamas in beating the likes of KKR to be named Best Asia Pacific Lender demonstrates how it is possible with a carefully structured approach to generate attractive and consistent returns from quality Chinese credit-funding deals."
He added: "Following the agreement for the redemption of our first legacy investment in December we are now looking forward to participating more actively in projects identified by the Adamas teams, and generating returns for shareholders."
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