SSIAM establishes the DAIWA-SSIAM Vietnam Growth Fund III with a corpus size of $100 million. — Photo courtesy of SSI
HCM CITY — SSI Asset Management Co, Ltd and Daiwa Corporate Investment Co, Ltd, its partner and a subsidiary of Daiwa Securities Group, have completed the initial closing of the DAIWA SSIAM Vietnam Growth Fund III.
DAIWA-SSIAM III is a private equity fund that invests in private and non-listed companies in Việt Nam.
It has a target corpus size of US$100 million, a 10-year term and a five-year investment period, and they completed the initial closing on October 30.
It will adopt an active investment strategy, seeking to invest in sectors identified as attractive and in which the investment team has knowledge and experience, with a focus on consumer-related goods and services, export-oriented segments with room to expand into the local market and other promising sectors like distribution, logistics, healthcare, education, and the media.
It will also consider equitisation and divestment opportunities in the case of State-owned enterprises.
It has a flexible mandate targeting equity upsides.
Daiwa Securities Group is a strategic shareholder in SSI Securities Corporation.
The fund marks the third partnership between the two sides since their first collaboration for the DSCAP-SSIAM Vietnam Investment Growth Fund in 2009 with a corpus of around $28 million.
In 2015 they launched the DAIWA-SSIAM Vietnam Growth Fund II with a corpus of $40 million. — VNS