SonKim Land Announces US$121 Million Follow-up Fundraising from an Investor Consortium
SonKim Land Announces US$121 Million Follow-up Fundraising from an Investor Consortium led by EXS Capital, ACA Investments, and Credit Suisse
Ho Chi Minh City, 1 August 2019 – SonKim Land Corporation (“SonKim Land”), a leading Vietnamese real estate developer, is pleased to announce the successful closing of approximately US$121 million in fundraising from an investor consortium led by EXS Capital, ACA Investments, and Credit Suisse AG, Singapore Branch (“Credit Suisse”). This is a follow-up round of fundraising for SonKim Land, after a successful initial investment of approximately US$37 million in 2013 and US$46 million in 2016, all sponsored, advised and led by EXS Capital.
SonKim Land is pleased to be partnering again with existing investors ACA Investments and Lemongrass Master Fund (an entity managed by EXS Capital), both of whom have committed additional funds to this round of fundraising for SonKim Land. This is now the 2nd round of investment from ACA Investments and the 3rd round of investment from Lemongrass Master Fund.
Hiroyuki Ono, Partner at ACA Investments, commented, “We are delighted to increase our investment into SonKim Land more than 5 times from the initial investment in 2016. Congratulations to SonKim Land team led by Chairman Tuan and CEO Andy Han for the well deserved fundraising as they have proved to us every year that they can deliver one of the best projects in Vietnam. We are pleased to correspond to their achievement by bringing more capital together with new investor like Credit Suisse. We continue to support SonKim Land and looking forward to bigger success.”
Eric Solberg, CEO of EXS Capital, commented, “We are pleased to sponsor this 3rd round of investment into SonKim Land with additional investment from the Lemongrass Master Fund. As our partner since 2013, SonKim Land continues to deliver strong results and reinforce its reputation as one of Vietnam’s best real estate developers. We look forward to working with the new co-investors on the company’s continued success under the leadership of Chairman Tuan, CEO Andy Han, and the SonKim Land management team.”
In addition, SonKim Land is working with other new investors for this fundraising round including Skymont Capital, an Asia-based investment management group, as well as Credit Suisse, one of the most active global financial institutions in Vietnam.
Rehan Anwer, Co-head of Southeast Asia and Frontier Markets Investment Banking & Capital Markets, Credit Suisse, commented, “Credit Suisse is committed to serving the diverse financing needs of entrepreneurs and we are proud to play a role in supporting SonKim Land’s further growth as it fulfills its ambitions to be among Vietnam’s leading real estate investment and development companies. This transaction demonstrates continued international investor interest in Vietnam.”
Alex Lin, Managing Partner at Skymont Capital, commented, “We look forward to working with SonKim Land as well as the co-investors to create exceptional value for all stakeholders in one of the fastest growing markets in the region. This investment exemplifies Skymont’s continued commitment to the region.”
Alongside these investors, Son Kim Investments, the parent company of SonKim Land, will also be participating in this fundraising round to continue fueling the company’s growth. The investor consortium and Son Kim Investments are investing through a combination of redeemable convertible loans and common equity.
Since 2013, SonKim Land has grown rapidly, with its latest award-winning luxury properties in Ho Chi Minh City including Serenity Sky Villas and the launch of Metropole Thu Thiem. These developments have won several awards in Vietnam and globally, including Best Condominium in Asia-Pacific and Best International Condominium at the 2018 International Property Awards in London. SonKim Land also won Best Boutique Developer in Vietnam and Asia, further reinforcing its reputation as a world-class real estate company.
With this latest round of fundraising, SonKim Land aims to continue developing its pipeline of attractive developments across Vietnam, including luxury residential, commercial & hospitality developments in Ho Chi Minh City.
Nguyen Hoang Tuan, Chairman of SonKim Land, commented “The success of this US$121m fundraising with investments from prestigious international investors has marked a great milestone for SonKim Land. We are very grateful to receive continued support and trust from our existing investors such as EXS Capital and ACA Investments to participate in this fundraising round. We are also proud to attract more new investors, including Skymont Capital and Credit Suisse, one of the biggest international banks, to support our future growth. We will continue to uphold our reputation as the pioneering luxury property developer in Vietnam as well as further expand our business in larger scale projects in residential, commercial and hospitality sectors. The real estate market of Vietnam will be kept amazed by our world-class quality projects”.
About SonKim Land:
SonKim Land is a pioneering luxury property developer in Vietnam, creating unique living quality for top luxury customers. The company's strategy is to focus on the luxury and high-end residential, hospitality, and office developments. For additional information about SonKim Land, please visit www.sonkimland.vn.
About EXS Capital:
Founded in 2007, EXS Capital is an independent investment group based in Hong Kong and dedicated to the Asia Pacific region. EXS Capital and its team are licensed by the Hong Kong Securities and Futures Commission, the Hong Kong Estate Agents Authority, as well as the Cayman Islands Monetary Authority.
EXS Capital sponsors bespoke opportunities on a deal-by-deal basis, investing with a value-driven, contrarian approach. This model of “direct private equity” allows EXS Capital to generate superior returns through customized deal structures, offering investors greater transparency and flexibility in comparison to traditional closed-end private equity funds. For management teams, EXS Capital acts as a long-term capital and strategic partner, offering greater alignment of interests over multiple transactions to drive lasting success.
Since its inception, EXS Capital has led several hundred US$ million in alternative investments in Asia, representing over US$1 billion in enterprise value. To date, all of EXS Capital’s deals have been strongly profitable for both investors and management. For additional information, please visit EXS Capital’s website at www.exscapital.com.
About ACA Investments:
ACA is a fund investment group based in Singapore, established in 2008 with Daiwa Securities Group as its strategic partner. ACA stands for “Asian Capital Alliance”. As the name implies, ACA links the Asian markets through its investments. ACA and its global network of strategic partners provide financial and strategic solutions to its portfolio companies.
ACA as a group engages in managing investment funds based on four strategies: “Asian Investments”, which focuses on rapidly growing Asian economies; “Strategic Investments”, which invests in companies judged to have high potential competitiveness; “Business Succession”, which supports domestic small and medium enterprises; and, “Healthcare Investments”, which specializes in both medical and nursing care. ACA has established itself as one of the best-performing Japanese fund managers since its inception, consistently delivering superior investor returns on over $1,600 million in managed assets.
ACA and its Japanese subsidiary are both licensed and registered by the Monetary Authority of Singapore and Kanto Regional Finance Bureau (Japan) respectively. For additional information, please visit ACA’s website at www.acainc.jp/en/.
About Skymont Capital:
Skymont Capital ("Skymont") is an investment management company based in Asia focused on investing in exclusive institutional real estate private equity opportunities for our investors and partners. Skymont was founded by former executives of leading global private equity and investment managers with decades of experience as a fiduciary, investing and managing capital for institutional and private investors. Skymont currently manages investments across multiple jurisdictions in Asia, U.S. and the U.K. For more information, please visit: www.skymontcapital.com.
About Credit Suisse AG:
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46,360 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.