SSI Asset Management, CT Bright, and Mercuria Investment Co., LTD hold the online signing ceremony to set up the Vietnam Growth Investment Fund between on October 14. — Photo courtesy of SSI
HCM CITY — SSI Asset Management has signed a deal with two foreign partners to set up the Vietnam Growth Investment Fund.
They include CT Bright, Charoen Pokphand Group’s flagship investment platform, and Mercuria Investment Co., LTD, an investment management company in which Development Bank of Japan, Itochu Corporation and Sumitomo Mitsui Trust Bank are the major shareholders.
VGIF will invest around US$150 million in private companies.
Its main investment focuses will be consumers goods and other sectors in which Việt Nam has competitive advantages, mainly essential industries that have many growth factors like attractive support policies like food and beverage, retail, medicine/health, energy, and water.
In addition to capital contribution, the three founders will also co-ordinate in all aspects such as management of fund operations, capital mobilisation, enterprise appraisal, and investment decision making.
SSIAM is responsible for finding, approaching and negotiating investment opportunities and participate in the management of the investee enterprises.
Speaking at the online signing ceremony, Lê Thị Lệ Hằng, CEO of SSI Fund Management Company, said: “2020 has been a memorable year for SSIAM as we successively established new funds such as SSIAM VNFIN LEAD ETF, SSIAM VN30 ETF and the upcoming Private Equity Fund - VGIF.
“With the growing economy and increasingly diversified investment needs, with a longer-term vision, we believe that VGIF will achieve great success.” — VNS