Aureos exits Truong Thanh Furniture, its first Vietnam exit
The Aureos South-East Asia Fund LLC (ASEAF), managed by emerging markets investor Aureos Capital, has fully exited Truong Thanh Furniture Corporation after three and a half years - its first exit in Vietnam.
According to the firm, Truong Thanh Furniture saw cash returns of 1.9x Aureos' original investment, and the annual IRR was nearly 81%. Aureos additionally claims that Truong Thanh Furniture experienced a 345% growth in sales revenues from $22.4 million in 2006 to $99.6 million in 2009, and in 2007, the corporation raised $29.4 million through a pre-IPO deal before listing on the Ho Chi Minh City Stock Exchange in February 2008.
The news comes months after Aureos launched its Aureos Southeast Asia Fund II (ASEAF II), a vehicle targeting $250 million for investment into Southeast Asia's small-to-mid-cap businesses.
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