Trinity locks in new structured fund in Vietnam

March 19, 2012 | 13:44

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The first structured fund Trinity Structure & Finance will open its office in Vietnam within next month.

According to Oliver Smith, Chief Investment Officer of boutique investment firm Trinity Investment Partners, launched and managed by Trinity Structure & Finance, the investment firm hoped to settle on a location for its Ho Chi Minh City office in the next few days.

The new fund has committed capital of $15 million for the South East Asia region and the fund’s second closing is slated for the end of this year. The investment strategy spotlights acquiring 100 per cent equity interests in companies holding fixed assets. The focus is on real estate.

“There is no capital limit for the Vietnamese market. Once we find potential transactions for purchasing fixed assets in corporate restructuring scenarios, we will mobilise more money apart from the $15 million of movable capital,” said Smith.

He added the fund’s investment strategy in Vietnam was to target companies wanting to restructure or refocus on core competencies or eliminate structural inefficiencies.

“We acquire the companies and their assets after intensive due diligence, remove any inefficiencies and once the inefficiencies are removed, we realise those assets for potential capital gains,” said Smith.

A purchasing transaction in finance would be disclosed in second quarter of this year.
Launched in 2011, Trinity Investment Partners has already completed three landmark deals including the acquisition of JSM Indochina Properties in the year.

The fund has prepared a financial restructuring plan of JSM Indochina Properties and is now waiting for right moment to put JSM Indochina Properties back on the market.