ADM raises $178m for Asia secured lending fund

The facility – also known as the Somei Lending Platform – was launched in 2016 by ADM and the International Finance Corporation (IFC), along with another unnamed financial institution. Both IFC and the other partner committed $50 million to seed the platform; the Overseas Private Investment Corporation (OPIC), a US government-backed development finance institution, and Calvert Impact Capital contributed $50 million and $10 million respectively, according to a release.

As the successor to ADM’s first ASLF vehicle, the fund will provide bilateral, direct loans to business in markets including Cambodia, China, Indonesia, Myanmar, Thailand, and Vietnam, that lack access to bank financing, with particular interest in situations where equity investments are considered unlikely, such as distressed and special situations. Borrowers are typically businesses with strong performance that can benefit from ADM’s active engagement to improve codes of conduct and focus on environmental, social, and governance (ESG) principles.

ASLF II is structured as a syndicated loan platform with a revolving senior and junior tranche, which allows capital to be recycled through a six-year availability period. ADM has made seven investments from the vehicle since its first close in 2017.

Based in London and Hong Kong, ADM currently has $1.6 billion in assets under management across 15 countries, aiming to provide flexible financing solutions to unlock value and drive growth. In addition to the ASLF funds, the firm also invests in Asia through the Cibus Fund, which focuses on food chain companies in Europe and Australasia and has acquired assets including an Australian almond orchard, which it purchased in January of this year.

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• Topics
• Southeast Asia
• Greater China
• Credit/Special Situations
• Fundraising
• ADM Capital
• IFC
• Overseas Private Investment Corporation (OPIC)