Pacific Star, Alony Hetz to set up $200 mln Vietnam fund

SINGAPORE, Jan 22 (Reuters) - Singapore property fund manager Pacific Star Group said on Tuesday it will set up a $200 million Vietnam real estate fund with Israel's Alony Hetz (ALHE.TA).

Alony Hetz will invest $50 million in the fund -- its first real estate investment in Southeast Asia -- while the balance money will be raised from institutional investors, Pacific Star said.

(Reporting by Kevin Lim; editing by Jennifer Tan)