Alternative investment firm Abu Dhabi Capital Management (ADCM) has won the award for Best Private Equity Fund at the Banker Middle East Product Awards 2014 in recognition of the performance of its Secondary Private Equity Fund over the last year. Jassim Alseddiqi, Chief Executive Officer of ADCM, was presented with the award by Adam Broom, Chief Operating Officer of Banker Middle Easts publisher CPI Financial, during a ceremony at the companys headquarters in Abu Dhabi.

ADCM launched its private equity business in January 2011 and has more than AED3 billion in assets. The firm won the award for its Secondary Private Equity Fund (ADCM-SPEF), which was established in March 2011 to realise substantial long-term capital gains by purchasing secondary interests in private equity funds managed by managers across the MENA region and around the world.

Commenting on the award, Jassim Alseddiqi, Chief Executive Officer of ADCM, said: ADCM has earned a reputation in the market for our innovative investment approach and proven ability to deliver high quality returns year after year. Being recognised as the best in class private equity fund in the UAE is a great honour for ADCM and a true testament to the stellar track record of our highly talented investment team.

This is the second prestigious award won by ADCM so far in 2014 following the companys win for Outstanding Performance & Innovation at the MENA Fund Manager Performance Awards in January.