이 기사는 2019년 12월 30일 08:00 더벨 유료페이지에 표출된 기사입니다.
The private equity unit of South Korea’s NH Investment & Securities (NH PE) plans to make an investment in Vietnam’s largest conglomerate Vingroup.
NH PE is set to acquire a three percent stake in SK Investment Vina II Pte Ltd., which is South Korean conglomerate SK Group’s overseas subsidiary formed to invest in Vingroup, for about 36 billion won ($31 million), sources familiar with the matter said on December 23. The investment will be funded through a $192 million co-investment fund that NH PE created with Korea Post about a year ago.
The investment decision came right after SKS Private Equity and Stonebridge Capital — co-general partners (co-GPs) of a $1 billion Corporate Partnership Fund that SK Group recently formed in partnership with the National Pension Service (NPS) — bought back part of the stake in SK Investment Vina II. SK Group and the NPS each contributed 50 percent of the committed capital of the fund.
This marks the first overseas investment made by NH PE, which is different from its previous moves. The private equity unit, under the influence of NH Investment & Securities, has so far focused on deal-making within the local market. Going forward, however, NH PE is likely to put efforts to source deals in the Southeast Asian region including Vietnam.
NH PE is considered more independent in investment decision-making, with the unit being under the immediate control of the CEO. In 2019, NH PE has raised a total of nearly one trillion won ($862 million) for its funds, including a $195 million blind-pool fund that the private equity house first launched on its own. NH PE plans to boost its assets under management to two trillion won ($1.7 billion) by 2020.
“NH PE, which belongs to brokerage house [NH Investment & Securities], has tended to focus on deals in the domestic market,” an industry insider said. “With nearly one trillion won of dry power on hand, NH PE first chose to invest in an overseas company. This could imply that NH PE will make more aggressive moves in the future.”
(By reporters Choi Ik-hwan and Kim Hye-ran)