Viet Nam-based fund management firm Indochina Capital announced yesterday its partnership with Japanese financial services group ORIX Corporation.
HCM CITY —
ORIX, headquartered in Tokyo with operations in 27 countries and territories worldwide, has acquired a 25 per cent stake in Indochina Capital. The value of the deal was not disclosed.
The strategic partner intends to support Indochina Capital to expand its fund management and advisory businesses in Viet Nam, one of Asia's fastest growing economies.
ORIX will also provide advisory services to Japanese companies entering Viet Nam and expand various business opportunities in collaboration with Indochina Capital.
Founded in 1964, ORIX is one of Japan's largest integrated financial services groups consisting of six independent segments, including corporate financial services, real estate, investment banking, maintenance leasing, retail and overseas business.
For the fiscal year ending March 31, 2010, the group reported total assets of US$83.2 billion and net income of approximately $406 million.
Indochina Capital was established in 1999 with an institutional base of investors including partners from North America, Europe and Asia.
Its investment management platform commenced in 2004. In 2005, the group launched Viet Nam's first real estate fund, Indochina Land Holdings. The firm recently closed its third fund, Indochina Land Holdings 3.
It manages a series of private, closed-ended real estate funds with about $500 million of capital under management.
Indochina Land developed the Nam Hai resort in Hoi An and this month will open an all villa resort on Con Dao Island managed by Six Senses.
In 2011, it expects to complete Indochina Plaza Ha Noi, a $160 million integrated residential and commercial complex, as well as the $130 million Hyatt Regency Da Nang Resort and Spa. — VNS