D-brane Bound States and the Generalised ADHM Construction

We discuss the sigma model description of a D-string bound to k D-fivebranes in type I string theory. The effective theory is an (0,4) supersymmetric hyper-Kahler with torsion sigma model on the moduli space of Sp(k) instantons on R^4. Upon toroidal compactification to five dimensions the model is related to the type II picture where the target space is a symmetric product of K3's.