ADM launches new fund and restructures another

Hong Kong-based distressed debt/special situations manager ADM Capital is on the threshold of launching a new fund, to be known as Galleus 2, and finalising the restructuring of its Galleus Fund, to be renamed Galleus 1. The new Galleus 2 fund will be seeded by an American institution. According to Rob Appleby, CIO at ADM Capital, that fund is due to launch at the end of August with $100 million of capital and a target size of $1 billion. ADM Capital currently manages $2.1 billion. …