When Vietnamese short-term interest rates spiked over 15% in 2012, companies were distressed and most foreign investors were leaving the country in droves. Eric Solberg decided the time was right to back a luxury property developer.
He met around 27 Vietnamese developers and picked one. His private equity firm, EXS Capital, invested $38 million in 2013 in the mezzanine debt of Sonkim Land.
“We smelled opportunity,” Solberg, EXS Capital’s founder and CEO, said in an interview with FinanceAsia.
Now EXS Capital and Sonkim are raising another $100 million and preparing for the next wave of investment from Japanese and Korean...
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