Abu Dhabi Capital Management (ADCM) has announced the launch of its first fund, which has  a target size of $100 million.

The ADCM Secondary Private Equity Fund had its first closing of $30 million earlier this month.
 The final closing is scheduled to take place in February 2012 at $100 million.

The Fund will be investing in secondary private equity funds in the Mena, US, and Europe regions. This is the first secondary private equity fund that mainly focuses on investing in secondary private equity funds in the Mena region, a statement said.

Abu Dhabi Capital Management is an alternative investment firm based in Abu Dhabi. It serves high net worth individuals and institutions and manages assets in the Middle East and other geographies worldwide. - TradeArabia News Service