Brock Silvers, a veteran China investor and private equity executive, has joined Adamas Asset Management in Hong Kong as a managing director as the firm readies a new investment vehicle.
In his new role, Silvers, who previously operated Kaiyuan Capital in Shanghai, is responsible for global development at Adamas, coming on board with the company in Hong Kong as it works with China’s Ping An Group to launch a new $500 million senior secured private debt fund.
Silvers’ is joining Adamas at the same time that it welcomes former AXA and Deutsche Bank executive Richard Clarke as chief operating officer. Also based in Hong Kong, Clarke is saddling up at the investment management firm to assist in driving forward the company’s business as it builds the new fund, according to the statement.
New Fund, New Team
“In conjunction with Adamas’ new Pan-Asian Credit Opportunity Fund, we’re delighted to add such experience to our core team,” said Adamas’ managing partner and CEO, Paul Heffner.
The credit initiative aims to invest in small and medium-sized companies predominantly in China, using a flexible non-correlated investment strategy. The company already has worked with Ping An’s Yun Sheng Capital unit to manage Adamas Ping An Opportunities Fund, which held a final close on $103.2 million in capital during October last year.
“Brock’s deep Asia investment and marketing background will prove invaluable as we capitalize on tremendous regional opportunities in SME corporate credit, while Richard’s proven operational expertise will ensure our ongoing commitment to best-in-class practice as our growth continues into 2020 and beyond,” Heffner added.
Before setting up Kaiyuan Capital, Silvers managed Asia-listed equity and China private equity funds in Hong Kong and Beijing as well as serving as CEO of Shanghai-based hospitality firm Laris Group.