# Dragon Capital Management (HK)

Dragon Capital Management (HK) is an Asset Manager based in Central, Hong Kong.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Central, Hong Kong
- **Region:** Asia
- **Address:** Hong Kong
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** dragoncapital.com.hk

## Regulatory record

- **CRD number:** 287890
- **SEC file number:** 801-132130
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/287890

## About

DRAGON CAPITAL MANAGEMENT (HK) LIMITED is an SEC-registered investment adviser in CENTRAL, registered since 2025. The firm manages approximately $168 million in assets. It has 4 employees and 1 investment adviser.

## Sectors

- Private Equity
- Real Estate
- Listed Equities
- Credit

## People

- Robert Zulkoski — Chairman & Chief Executive Officer

## Questions

### Who runs investment decisions at Dragon Capital Management?

Robert Zulkoski serves as Chairman and Chief Executive Officer, with day-to-day investment decisions managed across dedicated teams for private equity, real estate, listed equities, and credit. The firm's long-tenured senior leadership has operated in Vietnam's markets since the 1990s, giving continuity across economic cycles.

### How concentrated is Dragon Capital's geographic exposure?

Dragon Capital is overwhelmingly concentrated on Vietnam, with additional coverage of the broader Mekong region. This single-country depth defines the firm's franchise — its listed equity funds have historically ranked among the largest foreign institutional investors on the Ho Chi Minh Stock Exchange, and its private markets teams operate exclusively within Vietnam and neighboring frontier economies.

### How does Dragon Capital source proprietary deals in Vietnam?

Three decades of continuous on-the-ground presence give Dragon Capital a local network that spans corporate founders, state-owned enterprise management, and real estate developers. The firm's multi-strategy platform — managing public equities, private equity, real estate, and credit under one roof — generates cross-asset intelligence and deal referrals that single-strategy funds do not capture.

### What investment structures does Dragon Capital use?

Dragon Capital operates both closed-end listed funds, such as Vietnam Enterprise Investments Limited (London Stock Exchange), and unlisted private equity and real estate vehicles. The firm also executes direct co-investments and joint ventures with local Vietnamese partners, particularly in property development.

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Last updated: 2026-06-03T20:00:00.000Z

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