KKR Investor Group Invests $650 Million in Vinhomes

Posted on 06/16/2020


An investor group led by private equity firm KKR purchased a c.6% equity stake in Vinhomes Joint Stock Company (Vinhomes), a large l estate developer in Vietnam. Collectively, the investor group invested VND 15.1 trillion (US$ 650 million) for the stake. Singapore’s Temasek Holdings is part of the buying investor group. KKR is making the investment primarily from its Asian Fund III.

Following the transaction, Vingroup Joint Stock Company will continue to be the controlling shareholder of Vinhomes.

Vinhomes is a subsidiary of Vingroup and is listed on the Ho Chi Minh City Stock Exchange. Vinhomes develops and trades integrated residential, commercial and industrial real estate, and provides real estate management and related services.

Advisors

Credit Suisse (Singapore) Limited acted as sole financial advisor to Vingroup.

Other major shareholders on the sovereign wealth fund side in Vinhomes is GIC Private Limited, which in recent figures holds 192,312,500 shares, or 5.85% of Vinhomes. Norges Bank Investment Management (NBIM), the manager of Norway Pension Fund Global, holds 33,474,880 shares, or 1.02% ownership, according to recent ownership data.