Articles by Tim Burroughs
KKR sweetens tender offer for Japan's Hitachi Kokusai
KKR has improved its tender offer for Japanese high-tech manufacturer Hitachi Kokusai Electric after the process, which was announced in April, stalled due to share price volatility.
Orchid targets $900m for Fund VII, PSERS re-ups
Orchid Asia is targeting $900 million for its seventh fund and has won a $75 million commitment from Pennsylvania Public School Employees’ Retirement System (PSERS). It expects to do a first and final close in November.
China M&A: Exit options
The growth in outbound M&A among Chinese investors has created significant exit opportunities for PE investors
AVCJ Awards 2017 - voting has closed
Voting for the 2017 AVCJ Private Equity & Venture Capital Awards has now closed. Many thanks to all those who participated.
Q&A: Zhong Lun's Yun Zhou
Yun Zhou, a partner with Chinese law firm Zhong Lun, discusses the effects of Chinese government guidelines on outbound investment in terms of who will be doing these deals, and how
C-Bridge hires ex-GSK executive as senior partner
C-Bridge Capital, a Chinese healthcare-focused private equity firm, has appointed Abbas Hussain, who was most recently global president for pharmaceuticals and vaccines at GlaxoSmithKline (GSK), as a senior partner.
Vickers closes fifth VC fund at $230m
Vickers Ventures Partners has closed its fifth fund, which invests in China, Southeast Asia, India and the US, at $230 million – larger than the firm’s four previous vehicles put together.
Japan's Advantage exits telemarketing business
Advantage Partners has agreed to sell Customer Relation Telemarketing (CRTM), a call center business it acquired three years ago, to fellow Japanese private equity firm Integral Corporation.
Tencent invests $400m in India's Ola
Chinese internet giant Tencent Holdings has invested $400 million in Indian ride-hailing operator Ola, valuing the business at approximately $4.1 billion.
Indonesia sees first local listing by e-commerce start-up
Online-to-offline (O2O) e-commerce business Kioson has become the first start-up to list on the Indonesia Stock Exchange following a IDR45 billion ($3.4 million) IPO.
Australia's Allegro reaches first close on Fund III
Allegro Funds has reached a first close of more than A$200 million ($156 million) on its third fund. The Australian GP is no longer marketing to new investors and a final close near the hard cap of around A$300 million is expected before the end of the...
Abraaj invests in Pakistani cinema chain
The Abraaj Group has invested an undisclosed sum in Cinepax, with a view to helping the Pakistan-based cinema operator more than triple in size over the next four years.
Japan secondary buyouts: Hand to hand
A series of recent lucrative exits by Japanese GPs have shown that secondary buyouts in the country can deliver
Lexington leads $1.2b Warburg Pincus Asia secondary deal
Lexington Partners is leading the $1.2 billion secondary deal that will see Warburg Pincus sell a portion of every Asian investment in its 11th global fund in order to return capital to LPs. Goldman Sachs’ asset management arm is also participating as...
Philippines PE: Growth potential
Philippines-focused private equity funds are young and unproven. The investment theses need to play out – ideally resulting in more deal flow for larger GPs – for the industry to come of age
AVCJ daily bulletin returns October 6
There will be no AVCJ bulletin on October 5 due to a public holiday in Hong Kong marking the Mid-Autumn Festival.
Australia's PEP fails in legal action against Adamantem
A legal action by Australia’s Pacific Equity Partners (PEP) to force the founders of Adamantem Capital – who previously worked for PEP – to disclose marketing materials used in fundraising with a view to establishing whether they have breached obligations...
Permira to complete exit from Japan's Sushiro with 2.9x return
Permira will realize a gross multiple of 2.9x on its investment in Sushiro Global Holdings – the sushi restaurant chain it took public in Tokyo earlier this year – having agreed to sell its remaining stake to the parent company of Genki Sushi.
PE-backed Zhong An climbs 9.2% on Hong Kong debut
Zhong An Insurance, a Chinese online-only insurance business backed by Alibaba Group, Tencent Holdings and Ping An Insurance as well as several PE investors, gained 9.2% on its trading debut in Hong Kong.
AVCJ daily bulletin returns October 3
AVCJ's daily bulletin will not be published on October 2 due to the public holiday in Hong Kong marking China's National Day.
India's HomeShop18 to buy Providence-backed Shop CJ
Shop CJ Network, an Indian home-shopping channel in which Providence Equity Partners holds a 50% interest, will be acquired by industry peer HomeShop18.
Deal focus: Advantage kneads 12x return
Advantage Partners has sold Japanese massage chain Riraku back to one of the company's co-founders at a valuation of $300 million, having successfully executed its expansion strategy
Japan carve-outs: Slow burn story
Toshiba Memory Corporation is set to become Asia'a largest-ever PE buyout, if the deal goes through in its current form. But this doesn't necessarily mean the path to corporate divestments in Japan will become smoother
Ascendent-backed RYB Education gains 40% on US debut
Chinese kindergarten operator RYB Education closed up 40% on its first day of trading in New York following a $144.3 million IPO. Ascendent Capital Partners made a partial exit through the offering.