ADM introduces next distressed fund

The alternative fund manager teams up with the ADB to support troubled Asian companies.

Alternative investment manager Asian Debt Management ADM has closed the second in its triptych of funds branded under the name Maculus. The fund, which raised $338 million, will invest in rehabilitating financially beleaguered Asian companies. The Asian Development Bank ADB has committed a total of $45 million to the series of funds.

The Maculus funds position themselves as hybridized private equity and distressed debt structures. A third fund is planned for launch later in 2006 with the target of raising...

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