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Hong Kong finance group eyes market
Hong Kong-based financial services group Quam plans to soon make various investments in Vietnam, its Chairman Bernard Pouliot said on May 13.
“We see that Vietnam has many investment opportunities in areas including infrastructure, manufacturing and finance,” he said, adding his 20 million USD Quam Opportunity Fund would soon scout for investment opportunities.
“The fund already has interests in other Asian countries, but we’re now starting in Vietnam and if the money is not sufficient, we will raise more for the fund,” he said.
Quam is one of the founding members of the Global Alliance Partners (GAP) set up last October along with Capital Securities Partners of Japan, Mac Shataf Securities of the UAE, Seamico Securities of Thailand, Westminster Securities of the US, and Thanh Cong Securities Company of Vietnam.
One of GAP’s objectives is to expand cross-border capabilities covering private equity, pre-IPO and fund management placement opportunities.
Seamico has acquired almost 19 percent of Thanh Cong Securities, which has a charter capital of 360 billion VND (20 million USD), and is working to increase the stake to 49 percent.
Capital Securities Partners and Vietnam-focused British fund Dragon Capital jointly raised 250 million USD two years ago to invest in Vietnam.
GAP’s scope and reach, including members’ affiliates, span strategic markets in Asia, the Middle East, Europe and North America.
A GAP delegation on May 13 began a three-day visit to Vietnam to explore the market.
The delegates will go to several industrial parks in HCM City and surrounding provinces.
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