PENM Partners
Profile: PENM Partners’ Hans Christian Jacobsen
Hans Christian Jacobsen’s emerging markets experience spans Africa, Asia, the Middle East, and Eastern Europe. He ended up finding an appealing blend of growth, access, and stability in Vietnam
Vietnam GPs: Five's company
Vietnam’s incumbent domestic private equity firms have all been in operation for more than a decade. Do LPs have enough confidence in the market to support the launch of additional managers?
Vietnam IPOs: A bigger bourse
A string of large-cap IPOs has brought international investors and credibility to Vietnam public equities. Despite a few local peculiarities, the market is on a path towards modernization
Vietnam consumer: Trading up
Vietnam’s consumer economy is attracting a wider range of investors as deal sizes inflate and new openings emerge in a winding value chain. Private equity is positioned to exploit several vantage points
Mekong makes partial exit from Vietnam's Loc Troi
Mekong Capital has made a partial exit from Loc Troi Group – formerly known as An Giang Plant Protection – as the Vietnamese agribusiness player went public. The company is also backed by Standard Chartered Private Equity (SCPE) and PENM Partners.
Vietnam SOEs: Shifting ground
Vietnam’s state-owned enterprise (SOE) privatization initiative continues to produce investment opportunities, but private equity firms must be prepared for a hard sell when negotiating
Vietnam investment: Familiar faces
Regional private equity firms are refocusing on Vietnam, widening the exit options for local GPs that specialize in bringing companies to scale. But sizeable deals are scarce and valuations are rising
The devil you know: PE and Southeast Asian entrepreneurs
Due to a shortage of companies in Southeast Asia that have proved themselves capable of working private equity, when GPs identify a group they like it is not uncommon for them to work together more than once
Deal focus: KKR returns to Masan, PENM exits
KKR will team up with Vietnam's Masan Group for a second time, committing $250 million to the parent and its meat industry subsidiary. The GP's entry facilitates a partial exit for long-standing investor PENM Partners
KKR commits $250 million to second Vietnam consumer play
KKR has entered into a second partnership with Masan Group – just over a year after exiting the first with a more than 2x return – through a $250 million commitment to the Vietnamese conglomerate and its branded meat subsidiary.
PENM Partners reaches $120m first close on Vietnam fund
Vietnam-focused GP PENM Partners has reached a first close of $120 million on its fourth fund. The vehicle has a full target of approximately $180 million.