Tuesday, October 27, 2009
Yesterday, the FT carried a piece announcing that TPG would be investing $35 mln in a private Vietnamese company, Masan Group. I'm noting this for a couple of reasons. First, I have a long-standing personal/professional interest in things that happen in Vietnam. Second, this investment comes against the backdrop of reports earlier in the month that PE investors had turned off the spigot to new Vietnam country funds. To be honest, that's not altogether surprising. It's still a relatively small (85 million people!) place and investments there are hands-on projects that require more spade work than you can probably imagine. At the same time the past few years have seen an explosion in the growth of PE interest in the country resulting in much more money chasing deals. That said, the Masan Group is a real company that's enjoyed quite a bit of success with a strong management team.