VinaCapital Group, a fund management and real estate firm in Vietnam, has appointed Stacy Kincaid as fund portfolio managing director.
VinaCapital Group, a fund management and real estate firm in Vietnam, has appointed Stacy Kincaid as fund portfolio managing director.
Kincaid (pictured) will oversee the structuring and capital raising efforts for VinaCapital investments including real estate and infrastructure projects, as well as planned limited partnerships.
Prior to joining VinaCapital, Kincaid managed the placement of various private equity funds for Probitas Partners in San Francisco, and previously has managed substantial direct investment and real estate projects as well.
‘I’m very excited about the opportunities that VinaCapital is addressing. In a world filled with ‘distress,’ Vietnam itself is not distressed – it is one of the few countries worldwide that will post positive economic growth in 2009,’ says Kincaid. ‘There is still significant sustainable demand across many sectors, inflation has subsided, and domestic banks have the liquidity to support economic development.’
Vietnam weathered the global financial crisis to post 6.2 per cent growth in 2008. While falling export demand has slowed growth in the first quarter to 3.1 per cent annualised, economists see Vietnam heading toward a respectable four to five per cent growth for 2009.
‘Country-focused emerging market funds may not be for everyone, but the opportunities available in Vietnam should not be overlooked,’ Kincaid says. ‘Of course, there is inherent risk in emerging markets, but VinaCapital’s unparalleled capabilities in Vietnam coupled with the country’s strong economic fundamentals despite the global downturn are a compelling draw, even for investors who normally focus on Asia’s giants, China and India.’
VinaCapital manages over USD1.6bn in assets under management in real estate, capital markets, private equity, infrastructure, and technology. Recent investment activity includes the trade sale of an equity stake in food products company Masan, generating over USD20m for a return over 2.5x.
VinaCapital chief executive Don Lam sayss: ‘Stacy’s arrival in Vietnam is an important moment for our company. I believe we already have the top investment teams across numerous sectors in Vietnam, and now we add Stacy’s ability to communicate the opportunities available in Vietnam to investors around the world. Despite the ongoing challenges posed by the world economic slowdown, 2009 will be an exciting time for our firm.’
