Global private equity firm Warburg Pincus has completed a follow-on minority investment of a $100 million in Vincom Retail, a subsidiary of Vingroup, Vietnam's largest publicly-traded real estate company.

The follow-on investment brings the total investment to date by the Warburg Pincus consortium to $300 million, making it one of the largest investments by a private equity firm ever in Vietnam.

The Warburg Pincus consortium made the first investment of $200 million to help build out Vincom Retail in May 2013. Vincom Retail, the largest shopping mall operator in Vietnam, currently has 20 malls in operation or under development. Together with a robust pipeline in prime locations nationwide, the company has the only true national mall network. The existing prime assets of Vincom Retail include Vincom Dong Khoi and Vincom Thu Duc in Ho Chi Minh City, Vincom Ha Long, Vincom Ngo Quyen (Da Nang), plus Vincom Ba Trieu, Vincom Long Bien, Vincom Mega Mall Royal City and Vincom Mega Mall Times City in Hanoi.

The properties have attracted leading global and local brands, as well as world class F&B and entertainment operators, leading to a transformation in shopping, dining and entertainment in Vietnam. The Vincom Retail malls are home to more than 700 domestic and international brands.

Duong Thi Mai Hoa, CEO of Vingroup, says: "Vincom Retail has more than tripled the size of its portfolio since we first partnered with Warburg Pincus two years ago. The follow-on investment by the Warburg Pincus Consortium is a vote of confidence from our investors…this investment will help us to further accelerate the buildout of our malls as well as our broader retail platform, which includes VinMart, VinDS, VinFashion and VinPro, on a national basis."

"We believe strongly in the long-term economic prospects for Vietnam on the back of continued urbanization and emerging middle class consumption," says Jeffrey Perlman, managing director of Warburg Pincus.