Articles by Tim Burroughs
Provident, JD.com back Thailand e-commerce, fintech JVs
Southeast Asia-focused Provident Capital has partnered with Chinese online retailer JD.com, JD Finance, and Thai conglomerate Central Group on an investment of up to $500 million in e-commerce and financial technology services in Thailand.
Formation 8 backs Yello Mobile's O2O unit
Formation Group, a Silicon Valley and Asia-focused venture capital firm established by Formation 8 co-founder Brian Koo, has invested KRW112.5 million ($99 million) in the online-to-offline (O2O) services unit of Korean mobile internet platform Yello...
Kedaara closes second India fund at $750m
Kedaara Capital has closed its second India-focused fund at the hard cap of $750 million after approximately six months in the market.
China's PE-backed Secoo seeks $115m in US IPO
Secoo, a private equity-backed Chinese e-commerce platform that focuses on luxury goods, is looking to raise up to $114.8 million through a US IPO.
Australia exits: Closed window
Exit activity in Australia has followed a boom and bust pattern in recent years. Investors are consequently cautious about near-term IPO potential but not inactive
GP-led secondaries: Stigmatized no more
Traditionally perceived as a recourse for private equity firms in trouble, GP-led secondary transactions are starting to be used by brand-name managers as a liquidity solution for LPs
High valuations push Australian LPs up the infrastructure risk curve
Australian institutional investors are responding to rising valuations in the core infrastructure space by moving up the risk curve into more opportunistic assets – and domestic pricing pressure is also expected to lead to higher emerging markets allocations....
Australia's Advent sells Integrated Packaging to Pro-Pac
Australian mid-market GP Advent Partners has agreed to sell Integrated Packaging Group (IPG), an industrial and agricultural packaging business, to listed counterpart Pro-Pac in a deal worth A$177.5 million ($142.9 million).
IFC considers commitment to China's GenBridge
The International Finance Corporation (IFC) has proposed an investment of up to $25 million in the debut fund of GenBridge Capital, a private equity firm set up by former executives from JD.com and TPG Capital that focuses on China’s consumer sector....
China's Best targets $1b IPO, PE backers seek partial exits
A string of private equity investors are set for partial exits as Best Inc, a Chinese logistics operator backed by Alibaba Group, looks to raise up to $1.07 billion in its New York Stock Exchange IPO.
Sequoia China leads $240m round for WuXi NextCode
WuXi NextCode, a genome sequencing analysis business with ties to China-based contract research organization WuXi PharmaTech, has completed a $240 million extended Series B round of funding led by Sequoia China and featuring Temasek Holdings, Yunfeng...
Jeneration Capital hires former Coatue Asia head
Jeneration Capital Management, which sources the bulk of its funding from Chinese technology entrepreneurs, has appointed Tony Zhang as a partner. He was previously head of Asia at Coatue Management.
China outbound M&A: Within the rules
Changes to China's overseas M&A guidance could mean changes for investors in the country seeking to purchase foreign assets
Baring Asia, CPPIB complete Nord Anglia acquisition
Baring Private Equity Asia and Canada Pension Plan Investment Board (CPPIB) have completed their $4.3 billion privatization of US-listed Nord Anglia Education, a school operator in which Baring Asia was already majority shareholder.
CITIC PE, 3SBio agree North America acquisition
CITIC Private Equity and Chinese drug developer 3SBio – which the PE firm took public in Hong Kong two years ago – have agreed to buy the contract development and manufacturing (CDMO) business of Canada’s Therapure Biopharma for $423 million, including...
Asia Pacific pension fund assets hit $3.7t
Assets held by the largest pension funds and sovereign wealth funds in Asia Pacific increased 7% year-on-year – outpacing the global growth rate of 6.1% - to $3.7 trillion in 2016 on the back of strong, though volatile, equities markets.
Mercury gets go-ahead for New Zealand healthcare deal
Australia-based middle market GP Mercury Capital has won regulatory approval to acquire about 50% of Nirvana Health Group, New Zealand’s largest independent primary healthcare services provider.
KKR to take majority stake in Laser Clinics Australia
KKR has acquired a majority stake in cosmetic treatments business Laser Clinics Australia (LCA) at a valuation of A$650 million ($515 million). The deal facilitates a partial exit for The Growth Fund.
MSPEA backs $172m take-private bid for China auto parts player
Morgan Stanley Private Equity Asia (MSPEA) and the chairman of China Automotive Systems have submitted a take-private offer worth approximately $172 million for the NASDAQ-listed power steering components supplier.
Ascendent-backed RYB Education files for US IPO
RYB Education, a Chinese kindergarten operator in which Ascendent Capital holds a substantial minority stake, has filed for an IPO on the New York Stock Exchange.
DSG closes India, Southeast Asia consumer fund at $50m
DSG Partners Asia, which targets early-stage consumer opportunities in India and Southeast Asia, has closed its second fund at the hard cap of $50 million. Everstone Capital bought a 50% stake in the GP last year.
PE-backed Ambow Education seeks return to US main board
PE-backed Chinese tutoring and training services provider Ambow Education, which left the US main board in 2014 following allegations of financial impropriety and the appointment of provisional liquidators, has filed for an IPO.
Blackstone hires ex-JP Morgan banker as Japan chairman
The Blackstone Group has appointed Katsuyuki Kuki, who previously spent nine years as an investment banker with J.P. Morgan, as its chairman and representative director for Japan.
Affinity buys majority stake in Korean food container maker
Affinity Equity Partners has agreed to acquire a majority stake in Lock & Lock, a South Korean manufacturer of airtight food containers and kitchen household goods for KRW629.3 billion ($562 million).