Articles by Tim Burroughs
CITIC Capital rebrands as Trustar, backs Swiss medtech business
CITIC Capital Partners, a private equity firm part-owned by Chinese conglomerate CITIC Group, has rebranded as Trustar Capital.
Hillhouse, Tencent lead Series C for China's Fenbeitong
Hillhouse Capital and Tencent Holdings have led a $92.5 million Series C round for Fenbeitong, a China-based enterprise payment and expense management software provider.
WingArc raises $179m in Japan IPO, Carlyle makes full exit
The Carlyle Group has completed a full exit from Japanese enterprise software developer WingArc1st via the company’s JPY19.4 billion ($179 million) IPO.
Ant Capital seeks $461m for sixth Japan fund
Ant Capital Partners has set a hard cap of JPY50 billion ($461 million) for its sixth Japan buyout fund, with a first close on as much as half that total provisionally scheduled for the end of April.
Deal focus: Temasek supports impact's giant leap
Impact specialist LeapFrog Investments will use Temasek’s financial backing to broaden its reach, in terms of sectors and geographies, as well as to anchor future funds
Fund focus: Openspace says it with distributions
Openspace Ventures launched its $200 million third fund comfortable in the knowledge that the first two were top-quartile performers. IPOs, trade sales and partial secondary exits have all played a role
Shariah investors in PE: Tailored exposure
Employees Provident Fund’s $600 million shariah-compliant co-investment mandate suggests increasing institutional appetite for Islamic finance solutions in private equity. Is the industry ready?
Novo Tellus seeks control of Singapore-listed Procurri
Novo Tellus Capital Partners has moved to take control of Procurri, a Singapore-listed provider of IT services and data center equipment in which it acquired a minority position two years ago.
Shaw Kwei recruits managing director in Hong Kong
Shaw Kwei & Partners has recruited Paul DeMand, who brings three decades of operational experience in the automotive, electronics, and precision machining industries, as a managing director.
SPACs in Asia: Out of the comfort zone
Several Asian stock exchanges will consider allowing SPAC offerings, but implementation may run contrary to their regulatory ethos – and there is no guarantee of a strong market response
Quadrant backs Australia's TSA, Livingbridge exits
Quadrant Private Equity has invested an undisclosed sum in TSA Management, an Australia-based project consultancy business, taking out existing backer Livingbridge in the process.
Hillhouse agrees partnership with Jardines
Hillhouse Capital has teamed up with Asian conglomerate Jardine Matheson to pursue investment and business development opportunities in Greater China and Southeast Asia.
L Catterton Asia raises SPAC for consumer deals
L Catterton Asia has raised $250 million for a special purpose acquisition company (SPAC) that will focus on high-growth consumer technology assets within the region.
Korea's Coupang gains 41% on debut after $4.5b US IPO
BlackRock Private Equity Partners received proceeds of $936 million through a partial exit from Korean e-commerce business Coupang, which raised $4.55 billion in its US IPO. The stock gained 41% on debut.
Openspace raises $200m for third Southeast Asia VC fund
Openspace Ventures has closed its third Southeast Asia fund – which targets Series A and B rounds for companies with B2C and B2B technologies – at the hard cap of $200 million.
Profile: Cook Islands Super's David Brown
In 2015, David Brown swapped a career as an LP in Australia for a similar vocation in the Pacific Islands. Despite leaving his comfort zone – and getting charged and then cleared of fraud – he’s keen for more
China e-signature specialist Fadada gets $139m Series D
Tencent Holdings, Centurium Capital, and ZWC Partners have contributed RMB900 million ($139 million) in Series D funding to Fadada, a Chinese e-signature and cloud contract service provider.
Singapore's Azalea launches PE-backed bond offering
Temasek Holdings-owned Azalea Asset Management plans to sell S$250 million ($186 million) worth of bonds – backed by LP interests in private equity funds – to retail investors in Singapore.
Polaris buys mapping business from Japan's Pioneer
Japanese technology conglomerate Pioneer Corporation has agreed to sell Increment P Corporation – its car navigation and mapping business – to Polaris Capital Group.
CPE sells Australia biscuit business to Mondelez
Australian mid-market private equity firm CPE Capital has agreed to sell Gourmet Food Holdings (GFH) – a local producer of crackers and biscuits – to US-based food multinational Mondelēz International.
Deal focus: Point Avenue's O2O proposition
Vietnam education start-up Point Avenue is pursuing expansion across after-school tuition, bilingual K-12 schools, and online platforms. Gaw Capital will provide financial and strategic support
Temasek agrees $500m tie-up with impact investor LeapFrog
Temasek Holdings has committed $500 million to Asia and Africa-focused impact investor LeapFrong Investments, which will see it participate as an anchor LP in the firm’s future funds.
India's Edelweiss targets $686m for pre-IPO fund
Edelweiss Wealth Management (EWM) is looking to raise INR50 billion ($686 million) for its third fund focusing on late-stage growth and pre-IPO investments in India.
Rugby Australia open to private equity proposals
Rugby Australia will consider private equity investment proposals, following in the footsteps of commercial rugby union organizations in the UK and New Zealand that need cash to alleviate financial stress arising from COVID-19.