Carey Olsen’s investment funds team in Jersey has advised the South-east Asia focused AVI Frontier Fund I on its second close and investment into Techcombank’s landmark listing on Vietnam’s Ho Chi Minh Stock Exchange.
The new funding round follows the fund’s successful first close last July and subsequent exit from its first investment, which returned 37% gross in six months to investors.
Partner Chris Griffin led the Carey Olsen team advising AVI and was assisted by associate Katrina Lindsay.
Mr Griffin commented: “It’s good to see AVI using the ever-popular and flexible Jersey Private Fund regime to build track record in the South-east Asian markets.”
Richard Chilvers of AVI Partners said: “AVI is delighted to have completed its second investment into Vietnam. It offers an unparalleled play into the financial services sector of a high growth frontier market. The banking industry itself is underpenetrated and underscored by strong revenue and margin growth.
“AVI continue to display the strength of their relationships and in-country expertise in gaining such significant exposure to a highly oversubscribed IPO.”