25 Jan 2011 by The Asset
via CAAI
VictoryCapital has committed to invest up to USD100 million in Cambodia’s economy over the next several years and announced plans to launch a dedicated Cambodia fund.
The company is a wholly owned subsidiary of VinaCapital Group, an asset management and real estate development firm focussed on Vietnam, Laos and Cambodia. The latter has about USD1.7 billion in assets under management, primarily in three investment funds traded on the alternative investment market (AIM) of the London Stock Exchange. It has raised funds internationally from such major institutional investors as Temasek, Morgan Stanley, and European and Japanese pension funds and private banks.
VictoryCapital will source and manage investments in Cambodia and will help bring more foreign investments into the country. It intends to invest in a broad range of sectors, including real estate, hospitality, infrastructure and agriculture. It will be supported from the VinaCapital office in Singapore which will play a key role in raising capital. Simon Luu, formerly with ANZ Bank in Phnom Penh, is the VictoryCapital country manager.
“Through VinaCapital, we have access to international funds which we are aiming to invest in long term projects in Cambodia that will create value and promote sustainable economic growth. Our track record is based on supporting the growth of domestic companies and the domestic economy. We intend to continue to follow this model in Cambodia,” VictoryCapital CEO Don Lam says.
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