Published: April 6, 2011
Secondary fund targets US$100mn.
Abu Dhabi Capital Management, an alternative investment firm, has launched its first fund.
The ADCM Secondary Private Equity Fund has US$30mn to invest in secondary private equity funds in the Middle East and North Africa. It will also target Europe and the US.
The fund completed its first closing last month and its managers are planning a final closing in February 2012, where it hopes to raise a further US$70mn.
Abu Dhabi Capital Management is an asset manager serving high net-worth individuals and institutions primarily in the Middle East.