Not long after the meeting with the Prime Minister, the US investment fund poured 250 million USD into Novaland
No Va Real Estate Investment Group Joint Stock Company (“Novaland”HOSE: NVL) announced today the receipt of a $250 million investment from an investment fund group led by Warburg Pincus.
This $250 million investment marks the beginning of a strategic relationship between Novaland and Warburg Pincus. Through this partnership, Novaland’s current strong position in the real estate sector will be further strengthened by Warburg Pincus’ experience and expertise in the global real estate market.
Mr. Bui Xuan Huy, Chairman of the Board of Directors of Novaland, said, “Warburg Pincus is an important strategic partner for us. Warburg Pincus is one of the world’s oldest and most successful private equity funds, and it’s partnering Novaland with the value of disbursements. shows the strong faith they place in the Group’s growth potential.
Warburg Pincus’ proven experience in supporting real estate businesses in Vietnam and Asia is of great value to Novaland, and we expect this relationship to bear fruit in the coming years. new development phase of the Group”.
With the investment from Warburg Pincus, this is Novaland’s next successful large-scale fundraising with international investors in less than a year since the issuance of the internationally listed convertible bonds. on the Singapore Stock Exchange in July 2021.
The USD 250 million raised will be allocated to increase the land bank and develop Novaland’s existing projects in strategic locations, taking advantage of the gradually improving infrastructure in the South.
Mr. Jeffrey Perlman, Managing Director – Head of Real Estate Division Asia Pacific at Warburg Pincus, shared, “This investment affirms our unwavering commitment to Vietnam. With its continuously improving urbanization rate, growing middle class size and an increasingly diversified economy, Vietnam is the country’s largest economy,” he said. is poised for strong growth in the coming years.
We are excited for the opportunity to once again invest in a leading Vietnamese enterprise. With a strategic land bank, leading brands and outstanding execution capacity, we believe in Novaland’s ability to make the most of the market’s growth potential. At the same time, we will take advantage of our network, experience and expertise to accompany Novaland to develop more in the coming time.”
In addition, in this transaction, Credit Suisse acts as the sole financial advisor for Novaland.
Warburg Pincus is a leading global private equity firm focused on growth investing, headquartered in New York with over 200 investment professionals in 14 offices in 10 countries .
Since its founding, Warburg Pincus has raised 19 private equity funds and invested more than $94 billion in more than 940 companies in more than 40 countries. Today, the Fund manages more than $64 billion in private equity assets, with an active portfolio of more than 205 companies in a variety of sectors, including real estate, financial services, consumer technology, …
Warburg Pincus has invested in Asian real estate businesses and platforms for over 15 years and is currently one of the largest and most active investment funds in the Asian real estate market with investments of over $7.0 billion. into more than 40 real estate businesses. At the same time, Warburg Pincus is also the largest and most active private equity fund in Vietnam, with a total disbursed and committed capital of more than $1.5 billion since 2013 to help build building and developing leading companies in Vietnam, joint ventures with Vingroup, VinaCapital, Techcombank, Becamex, MoMo e-wallet…;
With $250 million, the investment in Novaland is Warburg Pincus’ sixth investment in Vietnam after the most recent investment in Momo through 2 rounds of Series C and Series D funding.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
