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Japan's SBI Holdings launches Cambodia investment fund

  • Anita Davis
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Japanese financial group SBI Holdings has teamed with Cambodia’s largest conglomerate Royal Group to launch a private equity investment vehicle predominantly targeting Cambodian companies.

The vehicle will have $50 million under management, with $25 million contributed by SBI and Royal Group apiece. The fund will launch this year and target companies in a range of industries, selected by Royal Group's network in the country.

Additionally, SBI's securities business in Cambodia - the SBI Phnom Penh Securities and Cambodian Capital Securities - will merge with a securities unit of the Royal Group by November 2011, under the umbrella brand SBI Royal Securities. That merger was approved in October of last year and "has become the first Japanese company to be a lead manager there," according to a statement.

The deal is part of SBI's wider plan to boost its footprint in emerging markets. In May, SBI teamed with Abu Dhabi state-owned Invest AD to invest $100 million in a new private equity vehicle targeting companies in Turkey. And last year, it launched an Islamic investment fund with the Ministry of Finance of Brunei Darussalam to invest in Brunei, and it again partnered with Invest AD to form an Africa-focused fund management company, with target regions including Nigeria, Ghana, Kenya. Egypt, Tunisia and Morocco.

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