Clermont Group: Difference between revisions

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The Clermont Group was established in December 2006<ref name=”B:Z”/> by [[Richard Chandler (businessman)|Richard Chandler]], a businessman from [[New Zealand]].<ref name=”A:A”/><ref name=”:0″>{{Cite web |title=The Goodness of Business |url=https://www.clermont.com/download/The%20Goodness%20of%20Business%20201806.pdf |archive-url=https://web.archive.org/web/20181205195833/https://www.clermont.com/download/The%20Goodness%20of%20Business%20201806.pdf |archive-date=2018-12-05 |access-date=5 December 2018 |website=www.clermont.com}}</ref> The company was originally named Orient Global,<ref name=”B:Z”/> with headquarters in Singapore<ref name=”B:B”/> and additional offices in London and Dubai.<ref name=”B:Z”>https://www.nzherald.co.nz/business/chandler-brothers-split-up-interests/BRSO22OOMM7DQAAFPRIFEWPFSY/</ref> The founding of Orient Global followed the demerger of the (US$6 billion NAV) investment portfolio Chandler held with his brother, [[Christopher Chandler (businessman)|Christopher]], which had operated as Sovereign Global since 1986.<ref name=”A:A”/> Notable for its corporate governance campaigns in Russia and South Korea, Sovereign Global had been among the first portfolio investors when Brazil and Russia opened to foreign investment in the 1990s.<ref name=”A:R”>{{Cite web|url=https://www.forbes.com/profile/christopher-chandler/|title=Christopher Chandler|website=Forbes|language=en|access-date=5 December 2018}}</ref> It had also invested in Japanese bank stocks in the early 2000s, and owned stakes in Indian businesses such as [[Housing Development Finance Corporation|Housing Development Finance Corp]], [[ICICI Bank]] and [[Axis Bank|UTI Bank]].<ref name=”A:S”>{{Cite web|url=https://www.institutionalinvestor.com/article/b150nr9k08bfxb/secrets-of-sovereign|title=Secrets of Sovereign|website=Institutional Investor|date=16 March 2006 |access-date=5 December 2018}}</ref>

The Clermont Group was established in December 2006<ref name=”B:Z”/> by [[Richard Chandler (businessman)|Richard Chandler]], a businessman from [[New Zealand]].<ref name=”A:A”/><ref name=”:0″>{{Cite web |title=The Goodness of Business |url=https://www.clermont.com/download/The%20Goodness%20of%20Business%20201806.pdf |archive-url=https://web.archive.org/web/20181205195833/https://www.clermont.com/download/The%20Goodness%20of%20Business%20201806.pdf |archive-date=2018-12-05 |access-date=5 December 2018 |website=www.clermont.com}}</ref> The company was originally named Orient Global,<ref name=”B:Z”/> with headquarters in Singapore<ref name=”B:B”/> and additional offices in London and Dubai.<ref name=”B:Z”>https://www.nzherald.co.nz/business/chandler-brothers-split-up-interests/BRSO22OOMM7DQAAFPRIFEWPFSY/</ref> The founding of Orient Global followed the demerger of the (US$6 billion NAV) investment portfolio Chandler held with his brother, [[Christopher Chandler (businessman)|Christopher]], which had operated as Sovereign Global since 1986.<ref name=”A:A”/> Notable for its corporate governance campaigns in Russia and South Korea, Sovereign Global had been among the first portfolio investors when Brazil and Russia opened to foreign investment in the 1990s.<ref name=”A:R”>{{Cite web|url=https://www.forbes.com/profile/christopher-chandler/|title=Christopher Chandler|website=Forbes|language=en|access-date=5 December 2018}}</ref> It had also invested in Japanese bank stocks in the early 2000s, and owned stakes in Indian businesses such as [[Housing Development Finance Corporation|Housing Development Finance Corp]], [[ICICI Bank]] and [[Axis Bank|UTI Bank]].<ref name=”A:S”>{{Cite web|url=https://www.institutionalinvestor.com/article/b150nr9k08bfxb/secrets-of-sovereign|title=Secrets of Sovereign|website=Institutional Investor|date=16 March 2006 |access-date=5 December 2018}}</ref>

By 2007, Orient Global had established a US$100 million Education Fund, which operated Rumi Education out of [[Hyderabad]].<ref name=”K:Z”/>

⚫ ⚫

In 2013, the Richard Chandler Corporation<ref name=”L:M”>https://dataen.vdsc.com.vn/2013/06/chandler-corp-pours-$99-mln-into-vietnam-medical-deal-38-151427.htm</ref> became the Chandler Corporation.<ref name=”K:Z”>https://theedgemalaysia.com/article/singapore-billionaire-who-roiled-korea-inc-bets-african-oil</ref>

In 2013, the company’s subsidiary Razi Healthcare was expanding in India.<ref>https://www.business-standard.com/article/companies/razi-healthcare-plans-to-go-pan-india-111051300058_1.html</ref>

The company in 2013 acquired a significant minority investment in [[The Medical City]],<ref name=”A:K”>{{Cite web|url=http://www.ibtimes.com.au/new-zealander-richard-chandler-forbes-lister-big-player-equity-markets-1448438|title=New Zealander Richard Chandler: Forbes Lister And The Big Player In Equity Markets|date=18 May 2015|website=International Business Times AU|language=en|access-date=5 December 2018}}</ref> a chain of hospitals and clinics in the Philippines.<ref name=”A:A”/> Also in 2013, the Chandler Corporation bought an 80% stake in Hoan My Medical Corporation,<ref name=”A:D”/> the largest private hospital group in Vietnam.<ref name=”A:A”/> After the purchase, facilities were upgraded and expanded, new hospitals were acquired and integrated into the hospital group,<ref>{{Cite web|url=http://vneconomictimes.com/article/business/hoan-my-strikes-new-m-a-deal|title=Hoan My strikes new M&A deal|website=vneconomictimes.com|access-date=5 December 2018}}</ref><ref>{{Cite web|url=https://www.dealstreetasia.com/stories/vietnam-acv-to-offload-7-4-to-aeroports-de-paris-hoan-my-buys-vinh-international-hospital-34643/|title=Vietnam: ACV to offload 7.4% to French airport; Hoan My buys Vinh Hospital|website=DealStreetAsia|language=en-US|access-date=5 December 2018}}</ref> and operating procedures in the network were standardized.<ref name=”A:G”/>

The company in 2013 acquired a significant minority investment in [[The Medical City]],<ref name=”A:K”>{{Cite web|url=http://www.ibtimes.com.au/new-zealander-richard-chandler-forbes-lister-big-player-equity-markets-1448438|title=New Zealander Richard Chandler: Forbes Lister And The Big Player In Equity Markets|date=18 May 2015|website=International Business Times AU|language=en|access-date=5 December 2018}}</ref> a chain of hospitals and clinics in the Philippines.<ref name=”A:A”/> Also in 2013, the Chandler Corporation bought an 80% stake in Hoan My Medical Corporation,<ref name=”A:D”/> the largest private hospital group in Vietnam.<ref name=”A:A”/> After the purchase, facilities were upgraded and expanded, new hospitals were acquired and integrated into the hospital group,<ref>{{Cite web|url=http://vneconomictimes.com/article/business/hoan-my-strikes-new-m-a-deal|title=Hoan My strikes new M&A deal|website=vneconomictimes.com|access-date=5 December 2018}}</ref><ref>{{Cite web|url=https://www.dealstreetasia.com/stories/vietnam-acv-to-offload-7-4-to-aeroports-de-paris-hoan-my-buys-vinh-international-hospital-34643/|title=Vietnam: ACV to offload 7.4% to French airport; Hoan My buys Vinh Hospital|website=DealStreetAsia|language=en-US|access-date=5 December 2018}}</ref> and operating procedures in the network were standardized.<ref name=”A:G”/>

In 2014, the company held a $366 million stake in [[Masan Group]] in Vietnam, a 9.9% stake in [[Africa Oil Corp]] valued at $220 million, a 13.4% stake in [[Union Bank of Nigeria]], and stakes in Orka Energy, Energy World Corp., and [[Green Dragon Gas]]. That year, it sold Rumi Education to its management team.<ref name=”K:Z”/>

===2017-2025===

Clermont Group increased its stake in The Medical City to 54% in 2018,<ref name=”Z:A”>https://www.postguam.com/business/local/philippine-court-issues-another-setback-for-bengzon/article_02c885d2-5434-11e9-bcac-0be69f147341.html</ref> at which point The Medical City served 50,000 inpatients and 500,000 outpatients a year.<ref>{{Cite web|url=https://www.themedicalcity.com/about|title=The Medical City {{!}} Where Patients are Partners|last=City|first=The Medical|website=The Medical City|access-date=5 December 2018}}</ref> The majority stake went to [[CVC Capital]] in 2023.<ref>https://business.inquirer.net/410549/cvc-capital-set-to-take-control-of-the-medical-city</ref>

Clermont Group increased its stake in The Medical City to 54% in 2018,<ref name=”Z:A”>https://www.postguam.com/business/local/philippine-court-issues-another-setback-for-bengzon/article_02c885d2-5434-11e9-bcac-0be69f147341.html</ref> at which point The Medical City served 50,000 inpatients and 500,000 outpatients a year.<ref>{{Cite web|url=https://www.themedicalcity.com/about|title=The Medical City {{!}} Where Patients are Partners|last=City|first=The Medical|website=The Medical City|access-date=5 December 2018}}</ref> The majority stake went to [[CVC Capital]] in 2023.<ref>https://business.inquirer.net/410549/cvc-capital-set-to-take-control-of-the-medical-city</ref>

Singapore-based conglomerate

The Clermont Group is a Singapore-based conglomerate that includes both operational businesses and financial investments. Headed by founder and chairman Richard Chandler, Clermont was established in 2006.[2]

The Clermont Group was established in December 2006[3] by Richard Chandler, a businessman from New Zealand.[2][4] The company was originally named Orient Global,[3] with headquarters in Singapore[5] and additional offices in London and Dubai.[3] The founding of Orient Global followed the demerger of the (US$6 billion NAV) investment portfolio Chandler held with his brother, Christopher, which had operated as Sovereign Global since 1986.[2] Notable for its corporate governance campaigns in Russia and South Korea, Sovereign Global had been among the first portfolio investors when Brazil and Russia opened to foreign investment in the 1990s.[6] It had also invested in Japanese bank stocks in the early 2000s, and owned stakes in Indian businesses such as Housing Development Finance Corp, ICICI Bank and UTI Bank.[7]

By 2007, Orient Global had established a US$100 million Education Fund, which operated Rumi Education out of Hyderabad.[8]

In 2013, the Richard Chandler Corporation[9] became the Chandler Corporation.[8]

In 2013, the company’s subsidiary Razi Healthcare was expanding in India.[10]

The company in 2013 acquired a significant minority investment in The Medical City,[11] a chain of hospitals and clinics in the Philippines.[2] Also in 2013, the Chandler Corporation bought an 80% stake in Hoan My Medical Corporation,[12] the largest private hospital group in Vietnam.[2] After the purchase, facilities were upgraded and expanded, new hospitals were acquired and integrated into the hospital group,[13][14] and operating procedures in the network were standardized.[15]

In 2014, the company held a $366 million stake in Masan Group in Vietnam, a 9.9% stake in Africa Oil Corp valued at $220 million, a 13.4% stake in Union Bank of Nigeria, and stakes in Orka Energy, Energy World Corp., and Green Dragon Gas. That year, it sold Rumi Education to its management team.[8]

Clermont Group increased its stake in The Medical City to 54% in 2018,[16] at which point The Medical City served 50,000 inpatients and 500,000 outpatients a year.[17] The majority stake went to CVC Capital in 2023.[18]

The Clermont Group acquired magniX,[5] which at the time was developing a battery-electric propulsion system for electric airplanes,[19] in 2017. The company became a subsidiary,[5] and was moved from Australia to Washington State shortly after the acquisition.[19] Also in 2017, the Clermont Group invested in ICICI Lombard,[20][21] and purchased 9% of Indiabulls Pharmaceuticals. At the time, the Clermont Group had large minority stakes in Indiabulls Real Estate, Axis Bank, and Ujjivan Financial Services,[21] as well as complete ownership of the investment company Tamarind Capital Pte.[20]

In October 2017, Clermont Group took part in a funding round for OakNorth Bank,[22][23] a UK bank founded in 2015 that lends to businesses and property developers.[24] OakNorth also has a fintech platform that automates the credit analysis normally used for larger corporate loans.[25][26] The funding round valued the bank in excess of $1 billion.[22] In February 2019, Japan’s SoftBank Vision Fund and the Clermont Group invested an additional $440 million in OakNorth Bank.[27][28][29]

In 2018, the Clermont Group opened a new office in Ho Chi Minh City. Chandler, still serving as chairman, met with the Deputy Prime Minister of Vietnam Vương Đình Huệ in December 2018 to discuss areas for cooperation in developing financial services businesses within the country. Clermont Group had previously done consulting work for the State Bank of Vietnam and other agencies in regard to fintech and digital banking, as well as restructuring domestic credit and financial institutions.[30]

In 2021, magniX secured a $74 million, five-year contract from NASA to research electrified aircraft propulsion.[31] In 2025, Richard Chandler remained the Clermont Group’s chairman. Russell Low served as president, while Neil Perry served as CFO.[1]

Holdings and divisions

[edit]

The Clermont Group builds operating businesses in healthcare, financial services and technology,[5] and has both wholly owned subsidiaries and significant minority holdings.[11] The company’s businesses as of 2025 included Hoan My Medical Corporation, SBFC, magniX, and Clermont Capital.[32]

Clermont Group’s investment division,[32] Clermont Capital allocates capital globally to investments in both public and private equities,[33] including emerging markets.[6]

SBFC is a financial services company in India.[32] Acquired by Clermont in 2017,[34] it is focused on entrepreneurs and has 186 branches in 152 towns and cities.[32] It listed on the National Stock Exchange of India and the Bombay Stock Exchange in 2023.[34]

Hoàn Mỹ Medical Corporation

[edit]

Acquired by Clermont in 2013,[35][12] Hoàn Mỹ Medical Corporation is the largest private healthcare group in Vietnam,[36][32] comprising 14 hospitals and seven clinics as of 2025.[32] Hoàn Mỹ was awarded “Vietnam Hospital of the Year” by Frost & Sullivan in 2016 and 2017[15] and received “Third Class Labour Medal” from the President of Vietnam in 2017.[37][38][39]

magniX, a Clermont Group subsidiary acquired in 2017,[5] develops and manufactures power-dense, energy efficient electric motors for aircraft.[40][19][41] Headquartered near Seattle, magniX has developed proprietary technology designed for light aircraft,[42] and is working towards the goal of all-electric aircraft,[19] including powertrains for electric, hybrid electric and hydrogen electric aircraft.[43]

  1. ^ a b https://www.clermont.com/culture-and-people
  2. ^ a b c d e “New Zealander Richard Chandler: Forbes Lister And The Big Player In Equity Markets”. International Business Times AU. 18 May 2015. Retrieved 5 December 2018.
  3. ^ a b c https://www.nzherald.co.nz/business/chandler-brothers-split-up-interests/BRSO22OOMM7DQAAFPRIFEWPFSY/
  4. ^ “The Goodness of Business” (PDF). www.clermont.com. Archived from the original (PDF) on 5 December 2018. Retrieved 5 December 2018.
  5. ^ a b c d e https://www.techtimes.com/articles/285045/20221218/techceo-richard-chandler-man-building-tesla-airplanes-heres-idea.htm
  6. ^ a b “Christopher Chandler”. Forbes. Retrieved 5 December 2018.
  7. ^ “Secrets of Sovereign”. Institutional Investor. 16 March 2006. Retrieved 5 December 2018.
  8. ^ a b c https://theedgemalaysia.com/article/singapore-billionaire-who-roiled-korea-inc-bets-african-oil
  9. ^ https://dataen.vdsc.com.vn/2013/06/chandler-corp-pours-$99-mln-into-vietnam-medical-deal-38-151427.htm
  10. ^ https://www.business-standard.com/article/companies/razi-healthcare-plans-to-go-pan-india-111051300058_1.html
  11. ^ a b “New Zealander Richard Chandler: Forbes Lister And The Big Player In Equity Markets”. International Business Times AU. 18 May 2015. Retrieved 5 December 2018.
  12. ^ a b antaranews.com. “Chandler Corporation Acquires an 80% Shareholding in Vietnam’s Hoan My Medical Corporation”. Antara News. Retrieved 19 February 2019.
  13. ^ “Hoan My strikes new M&A deal”. vneconomictimes.com. Retrieved 5 December 2018.
  14. ^ “Vietnam: ACV to offload 7.4% to French airport; Hoan My buys Vinh Hospital”. DealStreetAsia. Retrieved 5 December 2018.
  15. ^ a b “Hoan My’s 20th Anniversary Celebrations”. Hoan My Medical Corporation.
  16. ^ https://www.postguam.com/business/local/philippine-court-issues-another-setback-for-bengzon/article_02c885d2-5434-11e9-bcac-0be69f147341.html
  17. ^ City, The Medical. “The Medical City | Where Patients are Partners”. The Medical City. Retrieved 5 December 2018.
  18. ^ https://business.inquirer.net/410549/cvc-capital-set-to-take-control-of-the-medical-city
  19. ^ a b c d Bogaisky, Jeremy. “MagniX Takes Step Toward Giving Small Workhorse Planes An Electric Makeover”. Forbes. Retrieved 5 December 2018.
  20. ^ a b “Fairfax sells 12% stake in ICICI Lombard to Warburg Pincus for Rs 2,473 cr”. Business Standard India. Press Trust of India. 28 May 2017. Retrieved 5 December 2018.
  21. ^ a b “NZ billionaire backs Indiabulls Pharma – Times of India”. The Times of India. 5 December 2017. Retrieved 5 December 2018.
  22. ^ a b Williams-Grut, Oscar. “Entrepreneur-focused bank OakNorth hits ‘unicorn’ status in funding deal”. Business Insider. Retrieved 5 December 2018.
  23. ^ “Singapore’s GIC takes 90 million pound stake in Britain’s OakNorth…” Reuters. 3 November 2017. Archived from the original on 6 December 2018. Retrieved 5 December 2018.
  24. ^ “New UK bank, Oaknorth, goes public on core system choice”. IBS Intelligence. 22 October 2015. Retrieved 5 December 2018.
  25. ^ Megaw, Nicholas (21 March 2018). “OakNorth becomes first UK digital bank to report annual profit”. Financial Times. Retrieved 5 December 2018.
  26. ^ “British bank OakNorth valued at $2.3 billion in funding round”. Reuters. 6 September 2018. Archived from the original on 5 December 2018. Retrieved 5 December 2018.
  27. ^ “UK’s OakNorth targets U.S. after $440 million SoftBank cash injection”. Reuters. 8 February 2019. Retrieved 10 April 2019.
  28. ^ “OakNorth raises $440 million from SoftBank and Clermont”. TechCrunch. Retrieved 10 April 2019.
  29. ^ Browne, Ryan (8 February 2019). “SoftBank invests in UK fintech OakNorth, giving it $2.8B valuation”. www.cnbc.com. Retrieved 10 April 2019.
  30. ^ “VN eyes the development of digital banking”. vietnamnews.vn. Retrieved 10 April 2019.
  31. ^ https://www.heraldnet.com/business/maker-of-electric-airplane-engines-gets-74m-nasa-grant/
  32. ^ a b c d e f https://www.clermont.com/our-businesses
  33. ^ “Clermont Group”. www.clermont.com. Retrieved 5 December 2018.
  34. ^ a b https://www.clermont.com/our-story
  35. ^ “Chandler Corporation Acquires an 80% Shareholding in Vietnam’s Hoan My Medical Corporation – Today’s Market News (MARKCOMM) News – InvestorPoint.com”. www.investorpoint.com. Retrieved 19 February 2019.
  36. ^ Hospital Management Asia. “Vietnam’s healthcare boom: Why global investors are eyeing a slice of the pie”. Retrieved 19 June 2025.
  37. ^ “Asia’s Best-in-Class Companies Celebrated at the 2017 Frost & Sullivan Asia-Pacific Best Practices Awards”. Frost & Sullivan. 5 October 2017. Retrieved 5 December 2018.
  38. ^ “Hoan My committed to improving healthcare quality in Vietnam – Hoan My committed to improving healthcare quality in Vietnam – News from Saigon Times”. english.thesaigontimes.vn. Retrieved 5 December 2018.
  39. ^ “Serving Community Engagement – We Work With Our Heart”. Hoan My.
  40. ^ “MagniX Motor High Power, Torque Density, MagniAlpha Sucperconducting”. Sustainable Skies. 18 May 2018. Retrieved 5 December 2018.
  41. ^ Stewart, Jack (27 September 2018). “A Better Motor Is the First Step Towards Electric Planes”. Wired. ISSN 1059-1028. Retrieved 5 December 2018.
  42. ^ “magniX trials electric motor with propeller on Cessna aircraft”. Aerospace Technology. 27 September 2018. Retrieved 5 December 2018.
  43. ^ https://www.magnix.aero/

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