KKR & Co. Inc. (NYSE: KKR) expects to triple its investments in Vietnam within the next ten years. The firm is plans to seize the rising demand from the Southeast Asian nation’s growing middle class. The U.S. buyout firm’s investments in Vietnamese assets exceeded $1 billion after a KKR-led consortium bought a stake in Vinhomes JSC (HOSE: VHM), the leading real estate developer in the country.
The Vinhomes investment saw a KKR-led consortium, whose members include Temasek Holdings, take a 6% equity stake in the Vietnamese company for $650 million. On Tuesday, members of the consortium issued a joint statement.
As a subsidiary of Vingroup (HOSE:VIC), the company develops and trades residential, commercial and industrial real estate.
The Vinhomes deal is ...