Articles by Tim Burroughs
OTPP loses head of Asia fund investments
Alison Nankivell has left her role as head of Asian fund investments at Ontario Teachers’ Pension Plan (OTPP) for a job with Business Development Bank of Canada (BDC).
Have your say in the 2013 AVCJ Awards
Can anyone stop KKR? That is the question being asked as we launch the 2013 AVCJ Private Equity & Venture Capital Awards, now in their 13th iteration.
Taiwan regulators stress commitment to PE – AVCJ Taiwan
Taiwan’s minister of economic affairs stressed that the government sees private equity as an important contributor to local economic development, highlighting draft legislation that promises to ease the deal approvals process. However, PE investors said...
L Capital Asia eyes bigger deals, mature markets for Fund II
Larger deals, including a few buyouts, are likely to feature more prominently in L Capital Asia’s second regional fund as the GP expands its attention to the more developed markets of Australia, Japan and South Korea, as well as bringing to bear the expertise...
Quadrant backs City Farmers' tech-based strategy
With a longstanding interest in Australia’s pet supplies industry, Quadrant Private Equity examined all the major independent players in search of a business suitable for rapid scaling up and expansion nationwide. In Perth-headquartered City Farmers,...
Nominations for the 2013 AVCJ Awards close today
Nominations for the 13th AVCJ Private Equity & Venture Capital Awards close today.
Commercial Intelligence targets $150m for Asia, Africa litigation fund
Specialist distressed debt and litigation investor Commercial Intelligence Funds Group (CI) is launching an Asia- and Africa-focused fund with a target of $150 million. A first close is planned for the end of 2013.
Hans Tung leaves China VC firm Qiming for the US
Hans Tung, Beijing-based managing partner at Qiming Venture Partners, has left the firm. AVCJ understands the departure was amicable, driven by Tung’s desire to relocate to the US for family reasons. He has yet to join a new firm.
PE-backed Australian fashion retailer enters administration
Bleach Group, the Australian parent of fashion brands Insight, Something Else and Ksubi, has been placed into voluntary administration. The company received growth capital investment from US-based Breakwater Investment Management in late 2012.
Simcere accepts Hony-backed take-private bid worth $490m
Chinese drug developer Simcere Pharmaceutical Group has agreed to a management buyout offer from a consortium led by its chairman and Hony Capital that values the company at approximately $490 million. Simcere is now expected to de-list from the New York...
Korea launches fund class to support overseas contractors
South Korea plans to launch specialist private equity funds as a means of encouraging financial institutions to support local firms competing for overseas construction contracts. The government hopes that $8.6 billion can be raised through these funds...
Q&A: FCC Partners' C.Y. Huang
C.Y. Huang, president of FCC Partners and chairman of the Taiwan M&A and PE Council (MAPE), explains why he sees the tide turning for foreign private equity in Taiwan and where the opportunities lie
AMP Capital reaches first close on second infra debt fund
AMP Capital has reached a first close of more than $300 million on its latest infrastructure debt fund. The vehicle has a full target of around $1 billion, roughly twice the size of its predecessor, which closed to new investors in June of last year....
Lloyds sells Australia loan portfolio to Bain credit affiliate
Bain Capital credit affiliate Sankaty Advisors has agreed to pay Lloyds Banking Group A$371 million ($335 million) for loans held by BOS International Australia. It is the latest in a series of divestments from the BOS loan portfolio after KKR and Allegro...
Taiwan buyouts: Back from the brink?
After a spike in buyouts in the mid-2000s, Taiwan sank from view due to private equity firms’ concerns about unpredictable deal approvals. Regulators are now trying to tempt them back with promises of reforms
Foreign PE in Taiwan: Engagement issues
Taiwan has a lot to offer private equity: it is one of relatively few classic buyout markets in Asia, with control positions, the ability to put in new management, and banks that are willing leveraged lenders. Japan and Australia are the only markets...
MBK Partners to buy ING Life Korea for $1.65b
North Asia buyout firm MBK Partners has agreed to buy ING Group’s South Korean life insurance division for approximately KRW1.84 trillion ($1.65 billion) as the Dutch insurer continued its Asia divestment plan. ING will retain a 10% stake in the business...
Indian insurers win approval to invest in domestic PE, debt funds
Indian insurers have received the green light to invest in domestic private equity and debt funds regulated under the alternative investment fund (AIF) program introduced last year. It follows a decision in March to allow life and general insurance companies...
KKR, Bain to enter final bidding for Panasonic healthcare unit - report
KKR, Toshiba Corp. and a consortium including Bain Capital, Mitsui & Co. and Development Bank of Japan are expected to participate in the final round of bidding for Panasonic’s healthcare unit.
Quadrant takes majority stake in Australian pet food supplier
Quadrant Private Equity has bought a majority stake in Australian pet food retailer City Farmers for A$93 million ($84 million).
Australia's Catalyst exits EziBuy to Woolworths for $274m
Catalyst Investment Managers has exited Australia and New Zealand apparel and homeware retailer EziBuy to Woolworths for NZ$350 million ($274 million). The PE firm bought a 43% stake in EziBuy six years ago for an enterprise valuation of NZ$200 million,...
VC-backed Montage Technology targets $115m US IPO
Montage Technology Group, a China-based semiconductor manufacturer backed by AsiaVest Partners and Intel Capital, is seeking to raise up to $115 million through a NASDAQ IPO. It is set to become only the second PE-invested Chinese company to go public...
Longreach completes precision drilling carve-out from Hitachi
North Asia mid-market buyout firm The Longreach Group has agreed to buy precision drilling business Hitachi Via Mechanics (HVM) from Japanese conglomerate Hitachi. It is said to be the first time Hitachi has divested a sizable asset to private equity...
KV Asia closes debut fund above target at $263m - update
KV Asia Capital has closed its debut fund at $263 million, exceeding the initial target of $250 million. The capital will be deployed in mid-size companies in Southeast Asia.