Top-performing Asian debt fund attracts inflows

Singapore-based Asian distressed debt manager soft-closes first tranche.

The Asian Debt Fund, a Singapore-based distressed debt manager launched by ex-Lazard banker Moe Ibrahim, has soft-closed the first tranche of its fund, having surpassed $55 million within the one year since its launch. The fund is sponsored by Finansa, a Bangkok-based investment bank, and Japan Asia Investment Corporation, a Tokyo-based venture capital company.

The Asian Debt Fund was one of the best performing Asian hedge funds in 2004, returning 25% to mid December...

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