Articles by Tim Burroughs
China's Innovent Biologics gets $260m Series D round
A fund controlled by China’s State Development & Investment Corporation (SDIC) has led a $260 million Series D round of funding for Innovent Biologics, a domestic biopharmaceutical company working on treatments for cancer, autoimmune disorders and heart...
Infosys backs Stellaris' debut India venture fund
Indian IT and business consulting firm Infosys has made a INR31.6 million ($4.6 million) LP commitment to the debut fund of Stellaris Venture Partners, a spin-out from Helion Venture Partners.
Singapore's Tembusu teams up with Chinese entrepreneur Shengdong Pang
Singapore-based private equity firm Tembusu Partners has teamed up with Shengdong Pang, founder of Chinese start-ups 2345.com and 51.com, to build ties between nascent software companies in China and Southeast Asia.
Actis opens Hong Kong office to focus on IR, client services
Actis has opened an office in Hong Kong that will primarily be used for investor relations and client services activities in Asia, including Australia and New Zealand. The firm already has bases in Beijing and Mumbai.
LP interview: Alberta Teachers' Retirement Fund
When Alberta Teachers’ Retirement Fund developed a private equity program, it was able to learn from the experiences of others and focused on building deep relationships with a select group of managers
Singapore's GIC makes changes to senior leadership
Singapore’s GIC Private has promoted Chow-Kiat Lim, currently its group chief investment officer, to the post of CEO, replacing Siong-Guan Lim, who will retire.
KKR to make $4.5b tender offer for Japanese auto parts manufacturer
KKR has agreed to buy Nissan Motor’s 41% holding in Japanese automotive components supplier Calsonic Kansei Corporation and launch a tender offer to acquire the company in full at a valuation of JPY498.3 billion ($4.5 billion).
Fund focus: Falcon House shows its staying power
Falcon House Capital comfortably beat the target for its second Indonesia-focused fund, raising $400 million for deployment in middle-market consumer sector businesses
Hong Kong tax: A life less certain
Hong Kong introduced legislation intended to give private equity investors greater tax certainty, but the implementation guidelines have moved it further from this goal. The implications could be wide-ranging
Falcon House closes second Indonesia fund at $400m
Falcon House Partners has closed its second Indonesia-focused fund at the hard cap of $400 million, buoyed by continued optimism about the rise of domestic consumption and a favorable response to the Widodo administration’s policies.
China's CMC, Enlight back IMAX's VR fund
Two Chinese media players – sector specialist PE firm CMC Capital Partners and entertainment content provider Enlight Media – are among the first group of LPs in a virtual reality (VR) fund raised by IMAX Corporation and its Hong Kong-listed Chinese affiliate....
KKR sells stake in Japan's Panasonic Healthcare to Mitsui
KKR has sold a 22% stake in Panasonic Healthcare, a Japanese medical equipment manufacturer in which it acquired a majority interest in 2014, to Mitsui & Co. for JPY54.1 billion ($510 million).
Asia fintech hubs: Head start
Singapore's move to strengthen its financial technology ecosystem underlines the importance of creating appropriate infrastructure and incentives for start-ups in the space
Warburg Pincus, VinaCapital to create SE Asia hotel platform
Warburg Pincus has teamed up with Vietnam-based GP VinaCapital and Don Lam, the firm’s founder, to create a hotel investment platform intended to tap into rising inbound tourism in Southeast Asia, particularly from China.
CDH, CCB exit Chinese hospital operator to Taiking Insurance
CDH Investments and CCB International have sold their stakes in Harmonicare Medical Holdings, operator of 11 women and children’s hospitals in China, to Taikang Insurance Group for HK$815.2 million ($105.1 million).
Large cap Asian LPs continue to prioritize co-investment - AVCJ Forum
Malaysia’s Employees’ Provident Fund (EPF) and Australia-based QIC differ markedly in terms of the maturity of their PE programs, but there is a common interest in establishing close ties to a limited number of GPs and pursuing co-investment.
Quadrant creates Australia experiential tourism platform
Quadrant Private Equity has made two further Australia tourism acquisitions, adding ferry and tour service Rottnest Express and cruise operator Cruise Whitsundays to a platform that already includes Great Southern Rail (GSR).
GPs see the Asia risk premium narrowing - AVCJ Forum
Private equity investors still expect a risk premium in Asia, although given uncertainty in Western markets and the relative stability in Asia’s more mature economies, it is debatable how long the status quo will last, industry participants told the AVCJ...
Two wins apiece for Quadrant, PAG, Affinity at AVCJ Awards
Quadrant Private Equity and PAG Asia Capital secured two wins apiece at the 2016 AVCJ Private Equity & Venture Capital Awards, with the former taking the firm of the year and mid-cap fundraise prizes, while the latter was recognized in the deal of the...
Macquarie Capital invests $10m in Korea's Yello Mobile
Korean mobile internet platform Yello Mobile has issued $10 million in convertible bonds to Macquarie Capital. The investment values the business at approximately $4 billion.
IMM-backed consortium pays $2.1b for stake in Korea's Woori Bank
IMM Private Equity is one of seven investors that have acquired a combined 29.7% stake in Woori Bank, a Korean lender that has been under government control since 2001, for KRW2.4 trillion ($2.1 billion).
Asia's LP landscape
Asia is increasingly a target for private equity firms on the fundraising trail, but the region’s LP base can be difficult to penetrate, with huge variations in size, appetite and sophistication
Ex-Shoreline executives reform as ShoreVest, target China NPLs
ShoreVest Capital Partners is bidding on its first Chinese non-performing loan (NPL) portfolios since the core team members departed Shoreline Capital.
Singapore to ease regulations on start-ups as part of fintech push
Singapore is promising to provide venture capital firms with streamlined approval processes and tailored incentives as part of efforts to develop the fundraising landscape for local start-ups.