Regional: REG: ADM MACULUS FUND II L.P.

Nonsovereign Project | 39918-014

Summary

ADM Maculus Fund II L.P (the Fund) is a successor of ADM Maculus Fund I, following the same investment philosophy and objectives. The establishment of the Fund follows the rapid deployment of capital of ADM Maculus I and its successful performance to date. The Fund will build upon the successes of the first fund and its strategy. The Fund, through its investment in portfolio companies, will assist in restructuring potentially viable companies that are financially distressed because of excessive debt and/or inappropriate capital and financial structure.

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Project Name REG: ADM MACULUS FUND II L.P.
Project Number 39918-014
Borrower/Company
Country Regional
Location Cayman Islands
Approval Number 7226
Type or Modality of Assistance
7226 Investment Fund-Equity Investment-LP US$ 25.20 million Approved
Strategic Agendas
Drivers of Change
Sector / Subsector

Finance - Finance sector development

Gender Equity and Mainstreaming
Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Investment Funds & Special Initiatives Div
Responsible ADB Officer S. Jane Brett
Project Sponsor(s) ADM Capital
Description ADM Maculus Fund II L.P (the Fund) is a successor of ADM Maculus Fund I, following the same investment philosophy and objectives. The establishment of the Fund follows the rapid deployment of capital of ADM Maculus I and its successful performance to date. The Fund will build upon the successes of the first fund and its strategy. The Fund, through its investment in portfolio companies, will assist in restructuring potentially viable companies that are financially distressed because of excessive debt and/or inappropriate capital and financial structure.
Objectives and Scope The key objectives of the Fund are to (i) mobilize foreign capital inflows to financially troubled but potentially viable companies throughout Asia; (ii) catalyze the financial restructuring and rehabilitation of these companies; and (iii) achieve a demonstration effect, as Maculus II's transactions will have a multiplier effect by creating replicable (best practice) restructuring models for Asia's emerging markets.
Linkage to Country/Regional Strategy Investing in the Fund is consistent with ADB's strategy of promoting (i)poverty reduction through job preservation and creation; (ii) private sector development; and (iii) country strategies addressing issues such as introducing best practices in corporate governance, banking reform, NPL resolution, and infrastructure preservation and development.
Safeguard Categories
Environment FI
Involuntary Resettlement C
Indigenous Peoples C
Summary of Environmental and Social Aspects
Environmental Aspects The Fund is required to adhere to ADB's applicable environmental protection and social safeguards. An environmental management system adopted for Maculus I will be continued for Maculus II. Environmental due diligence has been shown to be appropriate.
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
Timetable for assistance design, processing and implementation
Concept Clearance 12 Jul 2005
Due Diligence 07 Oct 2005
Credit Committee Meeting 31 Oct 2005
Approval 09 Jan 2006
PDS Creation Date 14 Mar 2006
Last PDS Update 24 Sep 2014
Title Document Type Document Date
Equity Investment in the ADM Maculus Fund II L.P. Reports and Recommendations of the President Dec 2005

Safeguard Documents

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Evaluation Documents

See also: Independent Evaluation
Title Document Type Document Date
Regional: Equity Investment ADM Maculus Fund II L.P. Validations of Project Completion Reports Sep 2014

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