PHNOM PENH Jan 25 Vietnam's largest asset
manager, VinaCapital Investment Management Ltd, is expanding
into neighbouring Cambodia with a pledge to invest $100 million
and eventually launch a dedicated fund, the company said on
Its new, wholly owned unit, VictoryCapital, will "invest in
a broad range of sectors, including real estate, hospitality,
infrastructure and agriculture", said VinaCapital, which
oversees $1.7 billion in assets primarily in three London-based
VictoryCapital will source and manage investments in
Cambodia, with VinaCapital's Singapore office helping to raise
capital, VinaCapital's statement said. It did not specify when
it would launch its Cambodia fund.
VictoryCapital joins a small band of frontier investors
sizing up Cambodia at a time when China and South Korea are
increasing direct investment in its tiny $10 billion economy.
Plans for a stock market are progressing, though slowly.
Simon Luu, formerly with Australia and New Zealand Banking
Group (ANZ.AX) in Phnom Penh, will be country manager and Don
Lam will be chief executive.
(Reporting by Jason Szep; Editing by Alan Raybould)