Articles by Tim Burroughs
Exhilway closes $200m mines and minerals fund, targets Indonesia
Exhilway Global, a US-based hedge fund and emerging markets private equity manager, has closed its maiden mines and minerals PE fund at $200 million. The vehicle will acquire and operate mines in alliance with local companies in Indonesia, as well as...
Australian Tax Office warns foreign investors on compliance
The Australian Taxation Office (ATO) has written to 130 private equity firms offering to “assist with their compliance” as it scrutinizes the pipeline of upcoming IPOs to ensure foreign investors don’t avoid paying local tax.
Australia's HighPoint Capital invests in Brand New Media
HighPoint Capital has acquired a significant minority shareholding in Brand New Media (BNM), a Sydney-headquartered business that runs digital channels for brands and broadcasters. Its partners include Seven West Media in Australia, New Zealand’s national...
Hong Kong PE regulation: The quest for certainty
Proposals have been released on extending Hong Kong’s offshore funds tax exemption to include PE and setting up open-ended investment companies. Market watchers are encouraged, but know they must be patient
CapAsia exits Thai toll road
The floods that devastated Thailand in the second half of 2011 were the country’s worst in 50 years, with the World Bank putting the economic damages at $45.7 billion. Bangkok came under threat in mid-October with outer areas most severely hit. The city’s...
The expanding LP universe
Big LPs make all the headlines, whether it is a large commitment to a GP or participation in a mega deal. It is therefore easy to overlook the fact that the institutional investor community is a multi-faceted and expanding creature. This is particularly...
Hong Kong's FSDC makes proposals for PE tax exemption, OEICs
Hong Kong’s Financial Services Development Council (FSDC) has released proposals for extending the profits tax exemption for offshore funds to include private equity and introducing open-ended investment company (OEIC) structures through which managers...
Leung quits as Blackstone Greater China chairman
Antony Leung will step down as Greater China chairman at The Blackstone Group to become CEO of Hong Kong conglomerate Nan Fung Group. He will remain involved with Blackstone as a senior advisor and member of the firm’s international advisory board. The...
Korea, Russia sovereign funds launch investment platform
Korea Investment Corporation (KIC) has agreed to form an investment platform with fellow sovereign wealth fund the Russian Direct Investment Fund (RDIF). Each side will contribute an initial $250 million and it is hoped the fund will reach $1 billion...
SoftBank China invests in P2P lending site Yooli.com
Chinese peer-to-peer financing platform Yooli.com has received $10 million in Series A funding from Softbank China Capital. The platform launched in February but already has nearly 100,000 registered users and has transacted more than RMB264 million ($43...
CapAsia JV sells stake in Thai toll road operator
CapAsia and Bank of Tokyo-Mitsubishi UFJ have sold their minority stake in Thailand’s Don Muang Tollway (DMT) for $132 million to a newly announced joint venture between Hong Kong-based First Pacific and Philippines infrastructure developer Metro Pacific...
Australia's PEP sells Link stake to Macquarie, ICG - report
Australia’s Pacific Equity Partners (PEP) has reportedly sold a 25% stake in share registry and superannuation administration services provider Link Group to Macquarie Group and Intermediate Capital Group for around A$200 million ($187 million).
North Asia GPs cautiously optimistic on economic reforms – AVCJ Forum
Government-driven reforms in Japan and South Korea have the potential to deliver more buyout opportunities, although industry participants told the AVCJ Forum in Hong Kong that their optimism is cautious rather than wholehearted.
Dattels, Gray to lead TPG in Asia, Peel steps back
Tim Dattels, a senior partner at TPG Capital, is moving back to Asia to lead the firm’s regional private equity operations in conjunction with Ben Gray. He is replacing Stephen Peel who is withdrawing from day-to-day management.
Kedaara bucks India fundraising trend
It hasn't been a stellar year for India PE fundraising. Driven by a combination of disillusionment over past underperformance and uncertainty about the prospects for the domestic economy, until last week LPs had committed just $1.9 billion to domestic...
Voting opens for the AVCJ India Awards
Voting has opened for the 2013 AVCJ Indian Private Equity & Venture Capital Awards. The region’s private equity community has until November 22 to pay tribute to the leading fundraising, investments, exits, individuals and firms of the past 12 months....
Indian GPs see opportunity amidst chaos - AVCJ Forum
Indian GPs expect the current vintage of country funds to enjoy a favorable investment climate as valuations moderate and competition for deals eases, even though they acknowledge that LP sentiment in many cases remains weak.
PAG eyes Southeast Asia, targets $1b in realizations - AVCJ Forum
PAG, a pan-Asian GP that has so far invested only in China, expects to break into the Southeast Asia market within the next year. Weijian Shan, the firm’s chairman and CEO, added that the team is also on course to realize in excess of $1 billion from...
KKR Scoops three prizes at AVCJ Awards
KKR was named Firm of the Year and also took the prizes for fundraising and deal of the year at the 2013 AVCJ Private Equity & Venture Capital Awards, while MBK Partners’ Michael B. Kim picked up the Private Equity Professional of the Year honor and Headland...
2013 AVCJ India Awards - last chance to vote
Voting for the 2013 AVCJ India Private Equity & Venture Capital Awards closes today - November 22.
Armstrong reaches $164m final close on SE Asia cleantech fund
Armstrong Asset Management has reached a final close of $164 million on its Southeast Asia Clean Energy Fund. With additional commitments coming from French development finance institution (DFI) Proparco and Geneva-based Unigestion, the fund was able...
OTPP increases investment in Macau casino developer
Ontario Teachers’ Pension Plan (OTPP) has invested HK$299.9 million ($38.7 million) in Macau casino and hotel developer Louis XIII Holdings through a zero-coupon convertible bond issue. This is the Canadian pension plan’s second commitment to the project,...
Temasek, Hopu participate in $213m China dairy investment
Temasek Holdings, Hopu Investment Management and three other investors will buy a 13.24% stake in Yashili International from China Mengniu Dairy for HK$1.6 billion ($213 million). Mengniu – which bought a controlling stake in Yashili earlier this year...
Kedaara closes debut India fund at $540m, rupee vehicle to follow
Kedaara Capital, a private equity firm led by former Temasek India head Manish Kejriwal, has reached a final close on its debut fund at $540 million. A rupee-denominated fund, which will co-invest alongside the US dollar fund on a pro rata basis, is in...