U.S. buyout firm sets up Vietnam real estate investment fund

PHI Group, a U.S. diversified holding company focused on mergers and acquisitions and investments in natural resources, energy, agriculture and special situations, has signed a memorandum of understanding for comprehensive cooperation to partner with Hanoi MHD Invest Joint Stock Co, for real estate investment and development activities in Vietnam.

PHI will assist MHD to become a publicly traded company in the United State and/or international stock markets.

PHI will engage MHD for the execution of its building projects in Vietnam, including but not limited to the contemplated Asia Diamond Exchange in the free-trade section of the Chu Lai Open Economic Zone, Quang Nam Province, Vietnam.

MHD and PHI will cooperate in the establishment and investment in a real estate sub-fund under the master Reserved Alternative Investment Fund (RAIF) set up by PHI in accordance with the Luxembourg Institutional Bank Fund Laws. It is expected that the size of the real estate sub-