Singapore Asset Manager Plans Indochina Expansion

Evergreen Assets Management is launching a fund to raise S$100 million ($73.27 million) to build on its decades-long track record of doing business in Indochina.

The five-year, closed-end fund is initially Cambodia-centric, focusing on Evergreen’s micro-financing business in the emerging market, while a small portion of the monies will be invested in its automotive business in Singapore, the firm said in an announcement.

The fund’s geographic allocation will be diversified later to cover more Indochina countries such as Myanmar and Vietnam, where Evergreen has a pipeline of investments. Evergreen said it already has received commitments of approximately S$25 million from accredited investors who recognize the region’s growth opportunities.

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