London Business School Coller Institute of Private Equity

By Vinatea A, Turner R
Articles and Presentations

Date Released: 30/11/2010
PDF Document

The Mekong case study recounts the story of the foundation and growth of a private equity firm in Vietnam and examines the difference in corporate culture compared with developed Western economies. The case study analyses the issues and challenges faced when creating and growing a PE firm in an emerging market including what makes an emerging market attractive for PE, issues associated with recruitment, typical ‘myths’ when investing in an emerging market (eg need for a local partner) and which LPs can be approached. The paper also provides insight into different investment themes and processes employed by Mekong over time, including detailed examples of two investments exemplifying the typical challenges and successes encountered by the firm. Finally, the paper outlines the challenges associated with corporate culture in Vietnam and the introduction of a corporate transformation process initiated in 2007.