EXS Capital eyes countries with great value & fundamentals, temporary distress

Real estate private equity firm EXS Capital has set its sights on countries which have great value, economy, and fundamentals with temporary distresses, CEO Eric Solberg said on Thursday.

The Hong Kong-based investment firm is looking at Southeast Asia, particularly Malaysia and Thailand, where it believes international investors have been overly discounting.

“We look for specific markets where we see value, great economy and fundamentals and temporary distress. For example, in 2012 until 2013, Vietnam was one of the most exciting countries in Asia – we see very aspirational, hardworking people. What happened was inflation got out of control, interest rates went up, PE and VCs stopped investing, and that’s where we went in,” Solberg said at DEALSTREETASIA’s annual flagship Asia PE & VC Summit in Singapore on Thursday.

“What that means today is markets like China, although we believe in the fundamentals and so on, but from the valuation point of view it’s hard to make sense,” he added.

Solberg believes that whatever businesses investors are looking into – even real estates – it is important to think about how tech and e-commerce industry will impact the business.

In Vietnam, EXS Capital invests in SonKim Land since 2012. The PE firm expects to raise $100 plus more for the Vietnamese developer and lead it to an IPO where it could become the top three listed real estate company in Vietnam. The company claims to have produced more than 25 per cent IRR for the firm’s investors.

EXS Capital focuses on privately-negotiated investments in Asia, seeking either majority or shared control. The company invests opportunistically across industries, particularly real estate.

Founded in 2007, EXS Capital has led over $250 million in alternative investments in Asia, representing over $1 billion in enterprise value. EXS originated, structured and executed these investments on a deal-by-deal basis, partnering with global private equity firms, hedge funds and international investment banks for funding.

Also Read:

Traditional PE doesn’t work in volatile Asian market: EXS Capital CEO Eric Solberg

CapitaLand grows Jakarta footprint with $54.9m realty deal with Qatar fund

Vietnam: Joint ventures preferred for equity investment in real estate

Singapore GIC partners Intiland for mixed-use project in Jakarta

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.