Lombard Investments, has invested an undisclosed sum in Robinson Department Store, a retail operator listed on the Stock Exchange of Thailand.
The firm has acquired 48 million shares of Robinson from Farallon Capital management, a US hedge fund. The amount paid was undisclosed, but Robinson’s shares were trading at THB8.25 a share at press time, implying that Lombard likely paid about THB396 million ($11 million; €8 million).
Robinson has 21 retail outlets in Thailand, of which 10 are located in Bangkok. Its outlets sell cosmetics, clothing, leather products, kitchenware, automobile accessories, toys and other children's products.
Lombard will support the company in executing its multi-year growth plan, Pote Videt, managing director of the firm, said in a statement.
The investment was made from Lombard Asia III, a $234 million vehicle focused on making growth and expansion investments in Southeast Asia and Greater China.
Established in 1985, Lombard has invested in more than 80 deals in Asia and North America. The firm has offices in Bangkok, Hong Kong and San Francisco.
Lombard Investments did not respond to a request for comment by press time.