PE firm ACA Investments plans to raise $100m for Vietnam deals

ACA Investments, the Singapore-based private equity firm that recently participated in the upsized funding of Vietnamese property developer Son Kim Land, said it is targeting to raise up to $100 million for investments in Vietnam over the next three years.

The firm has earlier raised as much as $70-million for its Vietnam vehicles from where it has deployed capital into two projects, that includes investment in Son Kim Land, Hiroyuki Ono, partner at ACA Investments, told DealStreetAsia.

ACA Investments infused $41 million in Son Kim Land’s latest round of financing, which was upsized to $121 million with participation from Hong Kong-based EXS Capital, Skymont Capital and Credit Suisse.

ACA Investments had earlier invested $10 million in the Vietnamese company.

Ono said the private equity firm continued to invest in Son Kim Land because it saw sizable growth potential for the Vietnamese real estate company, which could be facilitated through partnerships.

“We are trying to connect Son Kim Land with other investors to give more credential to the firm’s operations. An IPO is also in prospect, however, we do not rush into IPO but instead take careful steps,” he said.

The second investment out of the $70-million corpus was made into a residential project, Ono revealed.

Having invested in other industries such as technology and retail, ACA Investments’ next activities in Vietnam would focus on real estate. In an earlier interaction with us, Ono said the approach towards real estate stemmed from its limited partners’ interest in the sector. Japan-listed property groups contributed about half of ACA Investments’ fundraising for Vietnam.

Daiwa Securities Group, which acquired a 34 per cent interest in ACA Investments last year, also has created access to retail assets for the firm through Daiwa’s regional fund.

Over the past few years, ACA Investments has invested in Vietnamese businesses such as mom and baby product retailer Bibomart, Viet Thanh Technology and Cat Dong Trading and Services. With the new $70-million fundraise, Ono said, it brought the firm’s total capital infused in Vietnam to over $100 million.

He added that ACA Investments will continue to invest in the country on a deal-by-deal basis in the near future, given the flexibility in deal-making for both the firm and its portfolio companies.

“I am now more into warehousing, industrial and commercial real estate. As the market evolves, these asset types create more sustainable investment opportunities,” he opined.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.