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KKR-led consortium invests $650m in Vietnam's Vinhomes

Group will own a 6% stake while Vingroup will keep control of the housing arm

An apartment complex developed by Vingroup in Hanoi: The real estate sector has drawn heavy interest from overseas private equity funds and Singapore's state investor.   © Reuters

HANOI -- A consortium led by U.S. private equity powerhouse KKR that includes Singapore's state investor Temasek Holdings, announced Tuesday that it isinvesting $650 million in Vinhomes, the housing development arm of Vietnamese conglomerate Vingroup.

The stake purchase will give the consortium 6% of Vinhomes, while Vingroup will remain the controlling shareholder.

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